HSBC FY05 REL1;Pt 4/4

HSBC Holdings PLC 06 March 2006 HSBC Rest of Asia-Pacific Operations 2005 Half-year ended 2004 Half-year ended Figures in US$m 30Jun 31Dec 2005 30Jun 31Dec 2004 Interest income 2,669 3,004 5,673 1,922 2,227 4,149 Interest expense (1,512) (1,749) (3,261) (938) (1,151) (2,089) Net interest income 1,157 1,255 2,412 984 1,076 2,060 Fee income 763 856 1,619 615 672 1,287 Fee expense (131) (148) (279) (116) (130) (246) Net fee income 632 708 1,340 499 542 1,041 Trading income 387 473 860 265 229 494 Net income from financial instruments designated at fair value 14 44 58 - - - Net investment income on assets backing policyholder's liabilities - - - 6 26 32 Gains less losses from financial investments 2 16 18 4 13 17 Dividend income 4 1 5 1 2 3 Net earned insurance premiums 29 126 155 57 40 97 Other operating income 131 204 335 63 83 146 Total operating income 2,356 2,827 5,183 1,879 2,011 3,890 Net insurance claims incurred and movement in policyholder's liabilities (37) (129) (166) (46) (36) (82) Net operating income before loan impairment charges and other credit risk provisions 2,319 2,698 5,017 1,833 1,975 3,808 Loan impairment charges and other credit risk provision (23) (111) (134) 9 (98) (89) Net operating income 2,296 2,587 4,883 1,842 1,877 3,719 Total operating expenses (1,264) (1,498) (2,762) (967) (1,120) (2,087) Operating profit 1,032 1,089 2,121 875 757 1,632 Share of profit in associates and joint ventures 248 205 453 94 121 215 Profit before tax 1,280 1,294 2,574 969 878 1,847 HSBC North American Operations 2005 Half-year ended 2004 Half-year ended Figures in US$m 30Jun 31Dec 2005 30Jun 31Dec 2004 Interest income 11,893 12,481 24,374 10,084 11,197 21,281 Interest expense (3,917) (5,570) (9,487) (2,632) (3,656) (6,288) Net interest income 7,976 6,911 14,887 7,452 7,541 14,993 Fee income 2,411 2,935 5,346 2,320 2,431 4,751 Fee expense (341) (399) (740) (414) (572) (986) Net fee income 2,070 2,536 4,606 1,906 1,859 3,765 Trading income 275 738 1,013 221 361 582 Net income from financial instruments designated at fair value (257) 691 434 - - - Net investment income on assets backing policyholder liabilities - - - - - - Gains less losses from financial investments 40 48 88 63 97 160 Dividend income 18 24 42 16 16 32 Net earned insurance premiums 290 312 602 267 286 553 Other operating income 476 264 740 299 60 359 Total operating income 10,888 11,524 22,412 10,224 10,220 20,444 Net insurance claims incurred and movement in policyholder's liabilities (173) (160) (333) (157) (155) (312) Net operating income before loan impairment charges and other credit risk provisions 10,715 11,364 22,079 10,067 10,065 20,132 Loan impairment charges and other credit risk provisions (2,023) (3,015) (5,038) (2,377) (2,645) (5,022) Net operating income 8,692 8,349 17,041 7,690 7,420 15,110 Total operating expenses (5,026) (5,191) (10,217) (4,277) (4,755) (9,032) Operating profit 3,666 3,158 6,824 3,413 2,665 6,078 Share of profit in associates and joint ventures 47 1 48 4 (12) (8) Profit before tax 3,713 3,159 6,872 3,417 2,653 6,070 HSBC South American Operations 2005 Half-year ended 2004 Half-year ended Figures in US$m 30Jun 31Dec 2005 30Jun 31Dec 2004 Interest income 2,469 1,458 3,927 1,069 1,307 2,376 Interest expense (1,664) (513) (2,177) (463) (603) (1,066) Net interest income 805 945 1,750 606 704 1,310 Fee income 346 394 740 291 299 590 Fee expense (81) (122) (203) (62) (69) (131) Net fee income 265 272 537 229 230 459 Trading income 218 191 409 26 28 54 Net income from financial instruments designated at fair value 46 140 186 - - - Net investment income on assets backing policyholder's liabilities - - - 34 61 95 Gains less losses from financial investments 38 1 39 - 34 34 Dividend income 2 2 4 1 1 2 Net earned insurance premiums 341 405 746 266 330 596 Other operating income 38 150 188 4 24 28 Total operating income 1,753 2,106 3,859 1,166 1,412 2,578 Net insurance claims incurred and movement in policyholder's liabilities (297) (394) (691) (203) (256) (459) Net operating income before loan impairment charges and other credit risk provisions 1,456 1,712 3,168 963 1,156 2,119 Loan impairment charges and other credit risk provisions (242) (312) (554) (140) (127) (267) Net operating income 1,214 1,400 2,614 823 1,029 1,852 Total operating expenses (872) (1,095) (1,967) (667) (746) (1,413) Operating profit 342 305 647 156 283 439 Share of profit in associates and joint ventures - - - - 1 1 Profit before tax 342 305 647 156 284 440 10. Registers of shareholders The Overseas Branch Register of shareholders in Hong Kong will be closed for one day, on Friday 24 March 2006. Any person who has acquired shares registered on the Hong Kong Branch Register but who has not lodged the share transfer with the Hong Kong Branch Registrar should do so before 4.00pm on Thursday 23 March 2006 in order to receive the fourth interim dividend for 2005, which will be payable on Thursday 11 May 2006. Transfers may not be made to or from the Hong Kong Overseas Branch Register while that Branch Register is closed. Any person who has acquired shares registered on the Principal Register in the United Kingdom but who has not lodged the share transfer with the Principal Registrar should do so before 4.00pm on Friday 24 March 2006 in order to receive the dividend. Any person who has acquired shares registered on the Overseas Branch Register of shareholders in Bermuda but who has not lodged the share transfer with the Bermuda Branch Registrar should do so before 4.00pm on Friday 24 March 2006 in order to receive the dividend. Transfers of American Depositary Shares should be lodged with the depositary by 12 noon on Friday 24 March 2006 in order to receive the dividend. 11. Foreign currency amounts The sterling and Hong Kong dollar equivalent figures in the consolidated income statement and balance sheet are for information only. These are translated at the average rate for the period for the income statement and the closing rate for the balance sheet as follows: Year end 31Dec05 31Dec04 Closing : HK$/US$ 7.754 7.773 £/US$ 0.581 0.517 Average : HK$/US$ 7.778 7.789 £/US$ 0.550 0.546 12. Litigation HSBC, through a number of its subsidiaries, is named in and is defending legal actions in various jurisdictions arising from its normal business. None of these proceedings is regarded as material litigation. 13. Dealings in HSBC Holdings plc shares Except for dealings as intermediaries by HSBC Bank plc, HSBC Financial Products (France) and The Hongkong and Shanghai Banking Corporation Limited, which are members of a European Economic Area exchange, neither the Company nor any subsidiaries has bought, sold or redeemed any securities of the Company during the year ended 31 December 2005. 14. Statutory accounts The information in this news release does not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985 (the Act). The statutory accounts for the year ended 31 December 2005 will be delivered to the Registrar of Companies in England and Wales in accordance with Section 242 of the Act. The auditor has reported on those accounts. Its report was unqualified and did not contain a statement under Section 237(2) or (3) of the Act. The comparative figures for the year ended 31 December 2004 are not the Group's statutory accounts for that year. The statutory accounts for the year ended 31 December 2004, which were prepared under UK GAAP, have been delivered to the Registrar of Companies in England and Wales in accordance with Section 242 of the Act. The auditor has reported on those accounts. Its report was unqualified and did not contain a statement under Section 237(2) or (3) of the Act. 15. Forward-looking statements This news release contains certain forward-looking statements with respect to the financial condition, results of operations and business of HSBC. These forward-looking statements represent HSBC's expectations or beliefs concerning future events and involve known and unknown risks and uncertainty that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Certain statements, such as those that include the words 'potential', 'estimated', and similar expressions or variations on such expressions may be considered 'forward-looking statements'. 16. Corporate governance HSBC is committed to high standards of corporate governance. HSBC Holdings plc has complied throughout 2005 with the applicable code provisions of the Combined Code on Corporate Governance issued by the Financial Reporting Council. The terms of reference of the Group Audit Committee and the Remuneration Committee were modified in February 2005 to incorporate certain provisions set out in the Code on Corporate Governance Practices in Appendix 14 to the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited which came into effect on 1 January 2005. HSBC Holdings plc has complied throughout 2005 with all other applicable code provisions of the Code on Corporate Governance Practices in Appendix 14 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The Board of HSBC Holdings plc has adopted a code of conduct for transactions in HSBC Group securities by Directors that complies with The Model Code in the Listing Rules of the Financial Services Authority and with The Model Code for Securities Transactions by Directors of Listed Issuers ('Hong Kong Model Code') set out in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited save that The Stock Exchange of Hong Kong has granted certain waivers from strict compliance with the Hong Kong Model Code, primarily to take into account accepted practices in the UK, particularly in respect of employee share plans. Following a specific enquiry, each Director has confirmed he or she has complied with the code of conduct for transactions in HSBC Group securities throughout 2005. The Directors of HSBC Holdings plc are: Sir John Bond, Baroness Dunn*, Sir Brian Moffat+, S K Green, A W Jebson, Lord Butler+, R K F Ch'ien+, J D Coombe+, R A Fairhead+, D J Flint, W K L Fung+, M F Geoghegan, S Hintze+, J W J Hughes-Hallett+, Sir John Kemp-Welch+, Sir Mark Moody-Stuart+, S W Newton+, S M Robertson+, H Sohmen*, and Sir Brian Williamson+. * Non-executive Director + Independent non-executive Director The Group Audit Committee has reviewed the annual results for 2005. 17. Annual Review and Annual Report and Accounts The Annual Review 2005 and/or Annual Report and Accounts 2005 will be mailed to shareholders on or about Tuesday 4 April 2006. Copies may be obtained from Group Corporate Affairs, HSBC Holdings plc, 8 Canada Square, London E14 5HQ, United Kingdom; Group Public Affairs, The Hongkong and Shanghai Banking Corporation Limited, 1 Queen's Road Central, Hong Kong; Employee Communications, HSBC - North America, 2700 Sanders Road, Prospect Heights, Illinois, 60070, USA; HSBC France, Direction de la Communication, 103 avenue des Champs Elysees, 75419 Paris Cedex 08, France; or from the HSBC Group website - www.hsbc.com. Chinese translations of the Annual Review and Annual Report and Accounts may be obtained on request from Computershare Hong Kong Investor Services Limited, Hopewell Centre, 46th Floor, 183 Queen's Road East, Wan Chai, Hong Kong. A French translation of the Annual Review may be obtained on request from HSBC France, Direction de la Communication, 103 avenue des Champs Elysees, 75419 Paris Cedex 08, France. The Annual Review and Annual Report and Accounts will be available on the Stock Exchange of Hong Kong's website - www.hkex.com.hk. Custodians or nominees that wish to distribute copies of the Annual Review and/ or Annual Report and Accounts to their clients may request copies for collection by writing to Group Corporate Affairs at the address given above. Requests must be received no later than 13 March 2006. 18. Annual General Meeting The Annual General Meeting of the Company will be held at the Barbican Hall, Barbican Centre, London EC2 on Friday 26 May 2006 at 11 am. Notice of the meeting will be mailed to shareholders on or about Tuesday 4 April 2006. 19. Interim results for 2006 The interim results for the six months to 30 June 2006 will be announced on Monday 31 July 2006. 20. Proposed interim dividends for 2006 The Board has adopted a policy of paying quarterly dividends. Under this policy it is intended to have a pattern of three equal interim dividends with a variable fourth interim dividend. It is envisaged that the first interim dividend in respect of 2006 will be US$0.15 per ordinary share. The proposed timetables for the dividends in respect of 2006 are: First interim dividend for 2006 Announcement 2 May 2006 Shares quoted ex-dividend in London, Hong Kong and Bermuda; American Depositary Shares quoted ex-dividend in New York 17 May 2006 Record date and closure of Hong Kong Overseas Branch Register of shareholders for one day 19 May 2006 Shares quoted ex-dividend in Paris 22 May 2006 Payment date 6 July 2006 Second interim dividend for 2006 Announcement 31 July 2006 Shares quoted ex-dividend in London, Hong Kong and Bermuda; American Depositary Shares quoted ex-dividend in New York 16 August 2006 Record date and closure of Hong Kong Overseas Branch Register of shareholders for one day 18 August 2006 Shares quoted ex-dividend in Paris 21 August 2006 Payment date 4 October 2006 Third interim dividend for 2006 Announcement 6 November 2006 American Depositary Shares quoted ex-dividend in New York 21 November 2006 Shares quoted ex-dividend in London, Hong Kong and Bermuda 22 November 2006 Record date and closure of Hong Kong Overseas Branch Register of shareholders for one day 24 November 2006 Shares quoted ex-dividend in Paris 27 November 2006 Payment date 18 January 2007 Fourth interim dividend for 2006 Announcement 5 March 2007 Shares quoted ex-dividend in London, Hong Kong and Bermuda; American Depositary Shares quoted ex-dividend in New York 21 March 2007 Record date and closure of Hong Kong Overseas Branch Register of shareholders for one day 23 March 2007 Shares quoted ex-dividend in Paris 26 March 2007 Payment date 10 May 2007 21. News release Copies of this news release may be obtained from Group Corporate Affairs, HSBC Holdings plc, 8 Canada Square, London E14 5HQ, United Kingdom; The Hongkong and Shanghai Banking Corporation Limited, 1 Queen's Road Central, Hong Kong; HSBC Bank USA, 452 Fifth Avenue, New York, NY 10018, USA; HSBC France, Direction de la Communication, 103 avenue des Champs Elysees, 75419 Paris Cedex 08, France. The news release will also be available on the HSBC Group website - www.hsbc.com. 22. For further information contact: London Hong Kong Michael Broadbent David Hall Director of Group Corporate Affairs Head of Group Public Affairs (Asia) Telephone: +44 20 7991 8980 Telephone: +852 2822 1133 Richard Beck Gareth Hewett Head of Group External Relations Senior External Relations Manager Telephone: +44 20 7991 0633 Telephone: +852 2822 4929 Patrick McGuinness Senior Manager Investor Relations Telephone: +44 20 7992 1938 Chicago Paris Lisa Sodeika Chantal Nedjib Executive Vice President, Managing Director, Corporate Affairs Corporate Communications Telephone: +1 847 564 6394 Telephone: +33 1 40 70 7729 Linda Recupero Gilberte Lombard Executive Vice President, Investor Relations Director Group Public Affairs Telephone: +33 1 40 70 2257 Telephone: +1 212 525 3800 This information is provided by RNS The company news service from the London Stock Exchange

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