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Delivering Growth in Asia GOLDMAN SACHS CHINA INVESTMENT FRONTIER CONFERENCE 2009 Delivering growth in Asia IAIN MACKAY NOVEMBER 2009 CHIEF FINANCIAL OFFICER THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED Forward-looking statements This presentation and subsequent discussion may contain certain forward- looking statements with respect to the financial condition, results of operations and business of the Group. These forward-looking statements represent the Group’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. Additional detailed information concerning important factors that could cause actual results to differ materially is available in our Interim Report. Past performance cannot be relied on as a guide to future performance. All financial information used in this presentation is reported in accordance with IFRS and extracted from HSBC Holdings plc’s 2009 Interim Report unless indicated otherwise. ‘Hong Kong’ includes Hang Seng Bank and ‘Asia-Pacific’ includes Hong Kong and the rest of Asia-Pacific. 2 Agenda HSBC Group overview Presence in Asia-Pacific Mainland China Hong Kong Rest of Asia-Pacific Opportunity Strategy Summary 3 HSBC Group overview Leading emerging markets international bank Linking developing and developed markets Global footprint • 8,500 offices in 86 countries and territories • Listings in London, Hong Kong, New York, Paris and Bermuda • 220,000 shareholders in 119 Asia, Middle East and countries and territories Latin America North America and Europe • 100 million customers • Over 295,000 staff • Personal Financial Services, Commercial Banking, Global Profit before Tier 1 capital Total capital Total assets Total revenues Banking and Markets and tax ratio ratio Private Banking 1H09 US$2.42trn US$34.7bn US$5.0bn 10.1% 13.4% 2008 US$2.53trn US$81.7bn US$9.3bn 8.3% 11.4% 5 Geographically diversified Emerging markets leading performance Europe (US$bn) • PBT: 3.0 North America (US$bn) • Loans: 457.1 • PBT: (3.7) Deposits: 529.7 • Loans: 226.3 • ASIA-PACIFIC (US$bn) • Deposits: 140.3 • PBT: 4.5 Loans: 171.5 • Latin America (US$bn) • Deposits: 394.1 • PBT: 0.58 Middle East (US$bn) • Loans: 44.7 • PBT: 0.64 • Deposits: 64.9 • Loans: 25.1 • Deposits: 34.3 Note: All figures are as at 1H09 6 Financial strength Funding and liquidity US$bn 31 Dec 20081 30 Jun 2009 % change Customer loans 419 216 307 41 983 401 199 287 38 925 and advances -6% Customer 461 248 343 121 1,173 482 240 331 110 1,163 accounts -1% Personal Financial Services Commercial Banking Global Banking and Markets Private Banking & Other Advances-to- deposits ratio 83.8% 79.5% Note: (1) Restated for constant currency, acquisitions and disposals 7 Financial strength Capital Movement in Tier 1 capital, 1H09, US$bn Tier 1 ratio (%) Rights Profit2 Dividends Other issue1 net of scrip 10.1% 18.2 4.7 1.1 117.4 95.3 (1.9) 1.3% 8.3% 1.3% 31 Dec 08 30 Jun 09 8.8% Risk-weighted assets, US$bn 7.0% 1,148 1,159 31 Dec 08 30 Jun 09 Core equity tier 1 ratio Non-core equity tier 1 ratio 31 Dec 08 30 Jun 09 Notes: (1) Rights issue excludes US$344m loss on a forward foreign exchange contract associated with hedging the proceeds of the rights issue, recognised in net trading income (2) Attributable profit adjusted for movements in fair value on own debt net of deferred tax 8 A diversified business By customer group Profit before tax1 1H08 US$10,774m 2H08 US$9,097m 1H09 US$5,019m 8,346 6,298 4,611 2,840 2,690 2,583 2,432 822 793 625 632 (189) (1,249) (3,250) (3,094) Personal Financial Services Commercial Banking Global Banking and Markets Private Banking Other Note: (1) Excluding goodwill impairment on North American PFS business 9 Presence in Asia-Pacific Presence Largest foreign bank1 in mainland China, Hong Kong, Indonesia and Malaysia Footprint in Asia-Pacific • History in Asia spans nearly 150 years Japan, 1866 South Korea, 1897 • Presence in 22 countries and 2 territories Mainland China, 1865 • Access to half of the world’s Pakistan Taiwan, 1884 population with combined GDP of Macau, 1972 US$21.3trn, the size of the combined Bangladesh, 1996 Hong Kong, 1865 GDP of the US, UK, Germany and Philippines, 1875 Libya India, 1867 Thailand, 1870 France3 Algeria Egypt Vietnam, 1870 • Nearly 1,000 branches and offices in Sri Lanka, 1892 Brunei, 1947 the region Nigeria, 2009 Malaysia, 1884 Maldives, 2002 Singapore, 1877 • Over 3 million internet banking Mauritius, 1894 customers in Asia, over half located Indonesia, 1895 Australia, 1964 South Africa, in Hong Kong 1995 Middle East Asia-Pacific New Zealand, 1987 Notes: (1) In respect of branch network (2) Includes a representative office in Nigeria (3) CIA The World Factbook 2008: Population and GDP (purchasing power parity) 11 Investments A decade of expansion in Asia Mainland China South Korea • 19.01% in Bank of Communications • Acquired 50% less one share in Hana Life • 16.78% in Ping An Insurance Taiwan • 12.78% in Industrial Bank via Hang Seng • Integrated assets and operations of The Japan Bank Chinese Bank • 20% in Yantai City Commercial Bank via South Korea • Acquired 100% of Chailease Credit Hang Seng Bank Services • 8% in Bank of Shanghai Mainland China Philippines • 24.9% in Beijing HSBC Insurance Brokers Pakistan • Acquired 100% of PCI Savings Bank • 49% in HSBC Jintrust Fund Management Taiwan Singapore • 50% in insurance entity with National Trust Bangladesh Macau • Acquired 100% of Keppel Insurance Hong Kong India • Acquired 100% of Asia Fund Services • 93.86% in HSBC InvestDirect Libya Philippines India Thailand Australia (IL&FS Investsmart) Algeria Egypt • Acquired 100% of Westpac sub-custody • 26% in Canara HSBC Oriental Bank of Vietnam business Commerce Life Insurance Company Limited Sri Lanka Brunei Vietnam Indonesia Nigeria Malaysia • 20% in Techcombank • 98.96% in Bank Ekonomi Maldives Singapore • Agreement to increase stake in Bao Viet Malaysia Mauritius Indonesia to 18% from 10.3% • 49% in HSBC Amanah Takaful Malaysia South Africa Australia • First foreign bank to locally incorporate Islamic bank Middle East • Purchased ABN AMRO’s retail mortgage New Zealand portfolio in 2002 Asia-Pacific Outlets1 Staff1 Assets2 Profit before tax2 1999 2008 1999 2008 1999 2008 1999 2008 592 910 45,307 127,489 220,711 669,456 3,383 11,929 Notes: (1) Outlets and staff in 1999 include Middle East; outlets in 2008 belong to The Hongkong and Shanghai Banking Corporation Limited and exclude the Middle East; staff in 2008 includes Middle East (2) In US$m; includes Middle East; 1999 PBT and total assets reported in accordance with UK GAAP 12 Mainland China Economic outlook Recovery expected GDP growth1 China in transition US$bn Transition 1 6,000 15% 13.0% • Coastal provinces will remain China’s economic engines, with diversification into higher value-added service sectors 5,000 11.6% 12% 10.2% Transition 2 9.5% 4,000 9.0% 8.1% 9% • Low value-added industries are migrating to central provinces and will eventually move into western China 3,000 5,366 4,735 6% 4,331 2,000 3,386 2,661 3% 1,000 2,239 Western region Central Coastal 0 0% region region 2005 2006 2007 2008 2009e 2010e Note: (1) HSBC Asian Economics 4Q09 (nominal GDP in US$bn) 14 Mainland China Largest foreign bank • Aim to grow organically and optimise strategic partnerships • Fast-growing presence: Bohai Rim – 90 HSBC Bank China outlets in 20 cities at Sept 09 with 11 new outlets year-to-date Shenyang Beijing – 5 rural banks – 6 outlets (Sept 09) Dalian 1 – 35 Hang Seng outlets in 11 cities (Jun 09) Western/Central Tianjin Qingdao region Taiyuan • Focusing on four economic growth zones Jinan Suzhou Zhengzhou Yangtze • First foreign bank to issue RMB bond in Hong Kong Xi’an Wuhan Shanghai Chengdu River Hefei Ningbo • First foreign bank to settle cross-border trade Changsha Hangzhou Delta Chongqing in RMB Xiamen • First foreign bank in rural banking Guangzhou Dongguan • Launched 50-50 insurance entity with National Trust Shenzhen Cities with branches and sub-branches Pearl River Delta • Top foreign bank in 10 categories, as chosen Cities with branches only 2 by peers Cities with approval for branches, pending opening Economic growth zones Note: (1) Hang Seng Bank (China) (2) PricewaterhouseCoopers Survey of Foreign Banks in China 2009 15 Competition Largest and most geographically widespread of all foreign banks in mainland China Locally incorporated foreign banks by branch network1 90 66 70 52 48 35 37 28 24 15 20 13 20 18 10 7 15 11 8 5 6 HSBC Bank of East Asia Standard Chartered Hang Seng Citibank ABN DBS Branches Sub-branches Note: (1) Official bank websites and press reports (as at end-Sep 09; excluding representative offices, administrative offices, etc.) 16 Mainland China PBT of US$752m in 1H09 Profit before tax (PBT) breakdown, US$m 1,000 907 748 752 800 698 685 538 600 400 159 160 200 67 0 1H08 2H08 1H09 Total Associates Other mainland China 1H09 business mix, PBT US$m Business highlights Others 17 (2%) • Established in 1865, locally incorporated in Mar 07 Personal Financial Services • Largest foreign bank network – on track for 100 HSBC- 188 (25%) branded outlets by end-2009 Global Banking and Markets 258 (34%) • Market value of 3 largest strategic investments up by US$8.2bn as of 1H09 Commercial Banking 292 – Bank of Communications, 19.01% (39%) Private Banking -3 (n/a) – Ping An Insurance, 16.78% US$752m – Industrial Bank, 12.78% via Hang Seng Bank 17 Strategic partnerships Largest foreign bank investor
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