Investor Presentaiton
Global Banking and Markets
Strategy
2023 results
Appendix
Revenue of $4.1bn, up $0.3bn (8%) 31
MSS revenue of $2.2bn, down $0.2bn (8%):
Global FX continued to perform well, with strong client and
trading activity, despite being down YoY due to exceptional
market volatility driving client flows in 2022
Securities Services growth driven by global interest rate
increases
Equities down due to lower client activity as a result of low
market volatility
Banking revenue of $2.1bn, up $0.5bn (33%):
GPS up from higher global interest rate environment
Credit and Lending revenue down largely due to weaker client
demand and a focus on returns
Capital Markets and Advisory up primarily due to higher debt
capital markets volume and growth in Issuer Services from
higher interest rates
2Q23 financial highlights
Management view of revenue
2023 vs. 2022
Revenue
$4.1bn
8%
$m
2023 A2022
(2022: $3.8bn)
MSS
2,205
Securities Services
635
ECL
$(0.1)bn
>(100)%
(2022: $0.1bn)
Global Debt Markets
238
(8)%
34%
5%
Global FX
1,006
Costs
$(2.4)bn
(8)%
Equities
93
(10)%
(53)%
(2022: $(2.2)bn)
Securities Financing
252
2%
XVAs
(19) >(100)%
PBT
$1.5bn
(4)%
(2022: $1.6bn)
Banking
2,141
33%
GTRF
162
(4)%
ROTE33
14.2%
2.7ppts
GPS
1,122
92%
(2022: 11.5%)
Credit & Lending
489
(20)%
Capital Markets &
Revenue performance, $m
252
69%
Advisory
Other
116
+8%
(9)%
GBM Other
(285)
4,448
Principal Investments
17
4,061
3,756
3,815
Other
3,411
Revenue
(302)
4,061
21%
(18)%
(19)%
(15)%
8%
2,138
1,613
1,712
2,142
1,943
Key indicators
2,384
2,310
2,559
1,958
2,205
Cost-income ratio, %
(241);
(207);
(490)
(249)
(286)
Gross Capital Markets and
Advisory revenue34, $m
2023 A2022
60 Oppts
374 38%
Customer lending 35, $bn
2022
3Q22
4Q22
1Q23
2023
Customer deposits 36, $bn
313
MSS
Banking
Other
Assets under custody, $tn
RWAs, $bn
8.7
176 (12)%
(6)%
1.6%
227
(2)%
2023 vs. 1023
Revenue down $0.4bn (9%)
MSS down $0.4bn (14%) vs. a strong 1Q23, largely due to
Global FX as market conditions normalised
ā Banking revenue stable. Higher NII in GPS was offset by lower
Capital Markets & Advisory activity
29View entire presentation