HSBC Holdings plc (HSBC) Presents at European Financials Conference 2026 Transcript

SA Transcripts159.03K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call HSBC Holdings plc (HSBC) European Financials Conference 2026 March 18, 2026 9:00 AM EDT Company Participants Manveen Kaur - Group CFO & Executive Director Conference Call Participants Nicholas Lord - Morgan Stanley Presentation Nicholas LordMorgan Stanley Good afternoon, everybody. I hope everybody had a good lunch. And I'd like to welcome you to this session with Pam Kaur, who is the Group CFO of HSBC. Thank you very much for joining us, Pam. Manveen KaurGroup CFO & Executive Director Thank you, Nick, for the opportunity. Question-and-Answer Session Nicholas LordMorgan Stanley We're going to start off with the usual polling question. So I shall read that out to you now. So the question is, what is the most important area for HSBC management to deliver on to achieve the better than 17% RoTE target. The first is managing banking net interest income against the backdrop of rate volatility. The second option is delivering operational efficiencies. The third option is delivering growth in their wealth business. And the fourth option is managing capital efficiency. If you could please use the buzzer to answer the question and see what the result. Well, split. So it's operational efficiencies, banking NII, but actually pretty evenly balanced, I think. So maybe we just start with the obvious question. Obviously, it's a very dynamic situation out there, and it's difficult to predict. But what are your initial thoughts on the impact of the Middle East conflict on HSBC's operations? Manveen KaurGroup CFO & Executive Director Thank you, Nick. This question is top of mind for us, particularly in terms of the safety and security of our colleagues. And beyond that, it is being there to support our customers. We have been in this region for 130 years, and we absolutely believe in the business, the region and its potential continuing going