HSBC 2012 Annual Report Download - page 3

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Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
Who we are and what we do
HSBC is one of the world’s largest banking and financial services organisations, with
around 6,600 offices in both established and faster-growing markets. We aim to be
where the economic growth is, connecting customers to opportunities, enabling
businesses to thrive and economies to prosper, and ultimately helping people to fulfil
their hopes and realise their ambitions.
We serve around 58 million customers through our four global businesses: Retail
Banking and Wealth Management, Commercial Banking, Global Banking and Markets,
and Global Private Banking. Our network covers 81 countries and territories in six
geographical regions: Europe, Hong Kong, Rest of Asia-Pacific, Middle East and North
Africa, North America and Latin America. Our aim is to be acknowledged as the
world’s leading international bank.
Listed on the London, Hong Kong, New York, Paris and Bermuda stock exchanges,
shares in HSBC Holdings plc are held by about 220,000 shareholders in 129 countries
and territories.
Highlights
• Profit before tax down 6% to US$20.6bn and revenue down 5% to US$68.3bn on a reported
basis.
• Underlying profit before tax up 18% to US$16.4bn.
• Continued to execute our strategy to grow, simplify and restructure the Group.
• Underlying revenue up 7% reflecting revenue growth, notably in Global Banking and Markets
and Commercial Banking.
• Achieved sustainable savings of US$2.0bn, taking our total annualised savings to US$3.6bn,
exceeding our cumulative target of US$2.5bn to US$3.5bn since 2011.
• Announced 26 disposals and closures of non-strategic businesses and non-core investments in
2012.
• Return on equity was 8.4%, down from 10.9% in 2011.
• Dividends declared in respect of 2012 US$8.3bn or US$0.45 per ordinary share, up 10% on
2011.
• Core tier 1 capital ratio increased during the year from 10.1% to 12.3%.
Cover image
Financing trade has always been at the heart of HSBC's business, especially in our home market of Hong Kong. Today,
Hong Kong International Airport is the world's busiest air cargo hub, with its freight volume accounting for over one-
third of the total value of Hong Kong's external trade.