31st Mar 2009 16:30
The following regulated information, disseminated pursuant to DTR6.3.5, comprises the Annual Report and Accounts of HSBC Holdings plc for the year ended 31 December 2008, which was sent to shareholders of HSBC Holdings plc on 31 March 2009. The 2008 Annual Report and Accounts are available at: www.hsbc.com/financialresults.
HSBC HOLDINGS PLC ANNUAL REPORT AND ACCOUNTS 2008
Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. Its international network comprises some 10,000 properties in 86 countries and territories in Europe; Hong Kong; Rest of Asia-Pacific, including the Middle East and Africa; North America and Latin America.
With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by over 210,000 shareholders in 120 countries and territories. The shares are traded on the New York Stock Exchange in the form of American Depositary Shares.
HSBC provides a comprehensive range of financial services to more than 100 million customers through four customer groups and global businesses: Personal Financial Services (including consumer finance); Commercial Banking; Global Banking and Markets; and Private Banking.
Certain defined terms
Unless the context requires otherwise, 'HSBC Holdings' means HSBC Holdings plc and 'HSBC' or the 'Group' means HSBC Holdings together with its subsidiaries. Within this document the Hong Kong Special Administrative Region of the People's Republic of China is referred to as 'Hong Kong'. When used in the terms 'shareholders' equity' and 'total shareholders' equity', 'shareholders' means holders of HSBC Holdings ordinary shares and those preference shares classified as equity.
This document comprises the Annual Report and Accounts 2008 for HSBC Holdings plc and its subsidiaries. It contains the Report of the Directors and Financial Statements, together with the Independent Auditor's Report thereon, as required by the UK Companies Act 1985. The Annual Review 2008 of HSBC Holdings plc is published as a separate document. The Report of the Directors on pages 12 to 314 and the Directors' Remuneration Report on pages 315 to 328 have each been drawn up in accordance with the requirements of English law, and liability in respect thereof is also governed by English law. In particular, the liability of the Directors for these reports is solely to HSBC Holdings.
|
Financial Highlights |
2 |
|||
|
Cautionary Statement Regarding Forward-Looking Statements |
6 |
|||
|
Group Chairman's Statement |
8 |
|||
|
Report of the Directors |
12 |
|||
|
Operating and Financial Review |
||||
|
Principal activities |
12 |
Group performance by income and expense item |
26 |
|
|
Strategic direction |
12 |
Balance sheet |
40 |
|
|
Challenges and uncertainties |
12 |
Critical accounting policies |
61 |
|
|
Key performance indicators |
17 |
Customer groups and global businesses1 |
67 |
|
|
Reconciliation of reported and underlying profit |
21 |
Geographical regions1 |
87 |
|
|
Financial summary1 |
23 |
Products and services |
138 |
|
|
Income statement |
24 |
Other information |
140 |
|
|
Impact of Market Turmoil |
||||
|
Background and disclosure policy |
144 |
Nature and extent of HSBC's exposures |
150 |
|
|
Overview of exposure |
145 |
Fair values of financial instruments |
162 |
|
|
Business model |
149 |
Special purpose entities |
173 |
|
|
Risk management |
150 |
Other off-balance sheet arrangements and commitments |
187 |
|
|
Accounting policies |
150 |
|||
|
Risk1 |
||||
|
Regulation and supervision |
188 |
Operational risk |
252 |
|
|
Risk management |
191 |
Pension risk |
253 |
|
|
Credit risk |
192 |
Reputational risk |
254 |
|
|
Liquidity and funding |
235 |
Sustainability risk |
254 |
|
|
Market risk |
241 |
Risk management of insurance operations |
255 |
|
|
Residual value risk |
252 |
Capital management and allocation |
274 |
|
|
Governance1 |
||||
|
Corporate governance report |
281 |
Employees |
303 |
|
|
Directors and senior management |
281 |
Corporate sustainability |
312 |
|
|
Board of Directors |
290 |
Dividends, shareholders and meetings |
313 |
|
|
Directors' Remuneration Report1 |
315 |
|||
|
Statement of Directors' Responsibilities |
329 |
|||
|
Independent Auditor's Report |
330 |
|||
|
Financial Statements1 |
332 |
|||
|
Notes on the Financial Statements |
340 |
|||
|
Shareholder Information |
448 |
|||
|
Enforceability of judgements made in the US |
448 |
Interim Management Statements and Interim results |
452 |
|
|
Limitations affecting equity security holders |
448 |
Actuaries |
452 |
|
|
Fourth interim dividend for 2008 |
448 |
Shareholder enquiries and communications |
453 |
|
|
Interim dividends for 2009 |
449 |
Investor relations |
454 |
|
|
Dividends on ordinary shares of HSBC Holdings |
449 |
Where more information about HSBC is available |
454 |
|
|
Nature of trading market |
449 |
Taxation of shares and dividends |
455 |
|
|
Shareholder profile |
451 |
History and development of HSBC |
457 |
|
|
Memorandum and Articles of Association |
451 |
Organisational structure |
459 |
|
|
Annual General Meeting |
452 |
|||
|
Glossary of Terms and Index |
460 |
|||
1 Detailed contents are provided on the referenced pages.
Related Shares:
HSBC Holdings