Investor Presentaiton
Net interest income and margin
Reported NIM progression, bps
Strategy
4Q22 results
Appendix
88
(71)
174
157
3022
Asset yields
Liability costs
4022
Reported NIM trend
+17bps
Discrete quarterly
157bps
174bps
reported NIM
119bps
126bps
135bps
Reported NII, $m
o/w:
9,578
significant items
8,581
Average interest
7,454
6,781
6,997
earning assets
(AIEAs), $bn
4022 reported NII of $9.6bn, up $2.8bn (41%)
vs. 4021 (up $3.3bn / 53% adjusted) and $1.0bn
(12%) vs. 3022 (up $1.1bn / 13% adjusted), primarily
due to interest rate rises
4Q22 reported NIM of 1.74%, up 17bps vs. 3Q22
We continue to guide to FY23 NII of ≥$36bn54,
which we view as conservative given current FX
rates and the strong 4Q22 performance. Guidance
considers:
◆ Lagged deposit pass through impacts and
migration to time deposits
Volume of trading book assets funded by liabilities
accounted for in interest expense
Cautious outlook on loan growth in the short term;
continue to expect mid-single digit percentage
annual loan growth in the medium to long term
(7)
(2)
(12)
17
4Q21
1Q22
2022
3Q22
5
4022
We have taken and continue to take action to
improve our NII stability
2,251
2,259
2,208
2,171
2,178
Further NII analysis is included on slide 40
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