As a consequence of the gain on sale and the disposal of the HSBC Canada RWAs, the HSBC Group’s CET1 ratio will be enhanced by an additional c.130 bps over and above our existing capital plans (based on HSBC Group RWAs of US$828bn and HSBC Canada RWAs on a PRA basis of US$31bn).There would be no tax on the gain recognised at completion. The estimated pre-tax profit on the sale will be recognised through a combination of the consolidation of HSBC Canada’s results into the Company’s financial statements (between the 30 June 2022 net asset reference date and until completion), and the remaining gain on sale recognised at completion. An estimated pre-tax gain for the Company of c.US$5.7bn 2, inclusive of the recycling of c.US$0.6bn in foreign currency translation reserve losses.The Transaction is expected to complete in late 2023.įinancial impacts of the Transaction on the HSBC Group (consolidated basis) are currently expected to be (based on financials as at 30 September 2022): In addition, RBC will acquire all the preferred shares and the outstanding subordinated debt issued by HSBC Canada and held by the HSBC Group for approximately CA$1.1bn (US$0.8bn) and CA$1.0bn (US$0.7bn), respectively. RBC will acquire 100% of the issued common equity of HSBC Canada for a base cash consideration of CA$13.5bn (US$10.1bn 1). HSBC Holdings plc (the ‘ Company’) announces its wholly owned subsidiary, HSBC Overseas Holdings (UK) Limited, has today entered into an agreement to sell its banking business in Canada (‘ HSBC Canada’) to Royal Bank of Canada (‘ RBC’), subject to regulatory and governmental approvals, (the ‘ Transaction’). HSBC Board to proactively consider appropriate amount of additional surplus capital created by this Transaction to be returned through a one-off dividend and/or share buybacks (in addition to any existing share buyback programme).HSBC Group’s CET1 ratio enhanced by additional c.130bps over and above existing capital plans.HSBC Group’s estimated pre-tax gain of c.US$5.7bn.Cash consideration of CA$13.5bn (US$10.1bn).Investor information in Chinese - 投資者中文資訊 Founded in 1865, HSBC is one of the world’s largest banking and financial services organisations.įind information about our performance, dividends, and investor events.
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