Full Year 2022 HSBC Holdings PLC Earnings Fixed-Income Call Transcript
Hello, everyone. Welcome to the HSBC Fixed Income Call for our full year 2022 results. Thank you for joining us. I'm Carlo Pellerani, Group Treasurer, and I'm joined by Richard O'Connor, Global Head of Investor Relations; and Greg Case, Head of the Investor Relations.
As usual, I'll mention a couple of things in the results, then a quick update on financial resources. And finally, we'll go into Q&A. I will not be referencing any slide as we go through. In terms of results, I just would like to mention 3 points. 9.9% royalty for the year, 1.6% up on the back of higher NII and good cost control, which more than offset a higher ECL charge, we expect royalty to improve to about 12% this year.
Second, in terms of balance sheet dynamics, the reported loans and deposit numbers need to be read carefully because they include adjustments for the Canadian and French sales and FX. So if you exclude those loans actually decreased by $25 billion only in the quarter and deposits were flat. And then finally, credit quality remains quite solid.
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