Investor Presentaiton
Held-for-sale businesses
FY22 Canada and France retail performance
$bn*
Canada
Revenue
1.9
France
retail
0.6
ECL
(0.1)
Operating expenses
(1.0)
(0.5)
Reported PBT
0.8
0.1
Customer loans+
55.2
25.0
Customer accounts+
60.6
22.3
RWAs
31.9
5.0
Strategy
4022 results
Appendix
In 2022, we reclassified our Canada, France retail, Greece and Russia businesses as
held-for-sale. During the year we recognised a $2.4bn impairment loss on France
and a $0.4bn loss associated with Greece and Russia. All sales are expected to
complete in 2023
The sale of HSBC Canada for a cash consideration of CAD13.5bn is expected to
generate a pre-tax gain of $5.6bn on completion based on 4Q22 figures83
Our Group 4022 CET1 ratio of 14.2% includes a c.(5)bps impact from FX hedges
relating to the proceeds from the planned sale of our Canada business;
potential for a further c.(5)bps of impact as hedges move to deal contingent
Completion of the Canada sale is expected to generate around 1.4ppts favourable
impact on CET1 ratio in 2023 and the France retail sale 0.1ppts favourable
impact
Around $0.4bn of operating expenses from the businesses ($0.3bn Canada, $0.1bn
France) relate to Group recharges and other costs and will not transfer as part of the
planned transactions. We have plans to reduce up to 50% of these costs starting
from 2024
* On a reported basis
Of which $1.3bn NII
* Balances included in held-for-sale are 'assets held-for-sale' and 'liabilities of disposal groups held-for-sale'; Greece and Russia balances in HFS: loans $0.3bn, accounts $2.3bn
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