Investor Presentaiton
Appendix
Corporate Centre
4Q20 financial highlights
Revenue performance83, $m
Strategy
Results
10%
Revenue
$(155)m
4019
1Q20
2020
3Q20
4Q20
(4019: $(173)m)
Central Treasury
(47)
265
(64)
(32)
(12)
ECL
$1m
(94)%
Of which:
(4019: $16m)
3%
Costs
$(876)m
Valuation differences on long-term debt and
associated swaps
(73)
259
(64)
(32)
(12)
(4019: $(854)m)
Other central treasury
26
-
-
23%
Associates
$663m
Legacy Credit
13
(92)
42
28
3
(4019: $541m)
Other
(139)
22
(159)
(152)
(146)
PBT
$(367)m
22%
(4019: $(470)m)
Of which: FX revaluation on Holdings balance
sheet and net investment hedge
31
105
23
(25)
(4)
ROTE88
3.1%
2.3ppt
(FY19: 0.8%)
Total
(173)
195
(181)
(156)
(155)
380
770
796
673
610
Associate income detail83, $m
23%
51%
585
663
541
56
47
447
71
56
440
150
78
616
500
492
466
355
(30)
(101)
(87)
4019
1Q20
2Q20
Others
SABB
3Q20
4Q20
Bank of Communications
Not included in Corporate Centre revenue: Markets
Treasury revenue allocated to global businesses
4020 vs. 4019
Associates up $122m (23%), primarily due to higher
income and share of profit from associates in MENA
and the UK
4Q20 vs. 3Q20
Revenue down $1m, largely due to lower revenue
from Legacy Portfolio driven by non-recurrence of
favourable fair value adjustments in 3Q20
Associates up $223m (51%), primarily due to higher
income and share of profits associates in Asia,
MENA and the UK
Central costs
$0.8bn reduction in Holdings retained costs, from $2.5bn
to $1.7bn vs. FY19; targeting c. $1bn over time
◆ $0.3bn of retained cost reduction from cost savings,
$0.5bn from increased reallocation of Holdings costs
64
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