Investor Presentaiton
Commercial Banking
Strategy
2023 results
Appendix
2023 financial highlights
Balance sheet, $bn
49%
Revenue
$5.5bn
(2022: $3.7bn)
Customer lending
354
ECL
$(0.6)bn
(94)%
350
346
(2022: $(0.3)bn)
0
26
·27-
Costs
$(1.9)bn
(12)%*
(2022: $(1.7)bn)
354
324
319
77%
PBT
$3.1bn
(2022: $1.8bn)
ROTE29
28.8%
16.6ppts
(2022: 12.2%)
2022
1Q23
Revenue performance, $m
o/w SVB UK: 7.6
2Q23
7.0
+49%
(18)%
Customer accounts
491
497
496
0
23
24:
6,756
5,541
4,885
1,943*
4,451
588
-278:
3,708
489.
[507
−511■
516
491
474
472
335
[530
1,407
1,374
1,381
534
1,456
1,476
2,693
2,928
3,056
1,976
1,363
2022
1Q23
2022
3022
4022
1Q23
2023
o/w SVB UK: 8.7
2023
7.2
GPS
GTRF
2023 vs. 2022
♦ Revenue up $1.8bn (49%) 31 with growth across all our main
legal entities, notably in Asia and the UK RFB. GPS was up
$1.7bn due to higher interest rates and business repricing
actions, GBM Collaboration revenue was up 10% and fees were
up 8%. This was partly offset by lower C&L due to lower
balances and higher funding costs
Customer lending and accounts of $319bn and $472bn were
down 10% and 4%, mainly due to HFS transfers, excl. which:
Lending down $8bn (2%), as higher interest rates and
softening economic conditions led to reduced loan demand
in Hong Kong, the UK and mainland China. This was partly
offset by the acquisition of SVB UK
Deposits up $5bn (1%) as market-wide reductions in the UK
were offset by the acquisition of SVB UK and inflows in the
US
Balance sheet movements also included the transfer of
clients and balances from GBM to CMB in Asia 32
2023 vs. 1023
Revenue: 1023 included a $1.5bn provisional gain on the
acquisition of SVB UK. Excluding this, revenue was up $0.3bn
(6%), mainly in GPS due to higher interest rates and business
repricing actions
Customer lending down $4bn (1%) due to lower C&L balances
in Hong Kong and UK RFB and the transfer of Oman balances to
HFS
Credit & Lending
Markets products, Insurance
o/w: HFS portfolio 30
and Investments and Other
◆ Customer accounts broadly stable outside the UK RFB
* Costs were up $201m due to higher performance-related pay accrual, SVB UK and higher technology costs
o/w $1.5bn provisional gain on acquisition of SVB UK
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