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HSBC Holdings ( (GB:HSBA) ) has issued an update.
HSBC Holdings plc is currently involved in litigation related to the Bernard L. Madoff Investment Securities LLC fraud, specifically defending a claim by Herald Fund SPC for restitution of securities and cash. The Luxembourg Court of Cassation recently denied HSBC Securities Services Luxembourg’s (HSSL) appeal regarding the securities restitution claim but accepted it for the cash restitution claim. As a result, HSBC will recognize a provision of $1.1 billion in its Q3 2025 financial results, impacting its CET1 capital ratio by approximately 15 basis points. The outcome of the second appeal and the financial implications remain uncertain, but the provision will be treated as a material notable item, not affecting the FY25 return on tangible equity excluding notable items or any dividend.
More about HSBC Holdings
HSBC Holdings plc is a global banking and financial services organization. It operates in the financial industry, providing a wide range of services including retail banking, commercial banking, investment banking, and wealth management. The company focuses on serving customers worldwide, with a strong presence in both developed and emerging markets.
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