FORM 6

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Report of Foreign Private Issuer

Pursuant to Rule 13a - 16 or 15d - 16 of

the Securities Exchange Act of 1934

 

For the month of  July

HSBC Holdings plc

42nd Floor, 8 Canada Square, London E14 5HQ, England

 

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F).

Form 20-F   X              Form 40-F ......

(Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934).

Yes.......          No    X

(If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ..............).

 

 

 

The following is the text of an advertisement which is to be published in the press in Malta on 31 July 2010 by HSBC Bank Malta p.l.c., a 70.03 per cent indirectly held subsidiary of HSBC Holdings plc.

 

 

30 July 2010

 

 

HSBC BANK MALTA p.l.c.

FIRST HALF 2010 RESULTS - HIGHLIGHTS

 

 

·    Profit before tax of €42.2 million for the six months ended 30 June 2010 - an increase of 21.4 per cent, or €7.4 million, compared with €34.8 million for the same period in 2009.

 

·    Profit attributable to shareholders increased by 21.8 per cent, or €4.9 million, to €27.4 million, compared with €22.5 million in the comparable period in 2009.

 

·    Earnings per share for the six months ended 30 June 2010 were 9.4 euro cent, compared with 7.7 euro cent for the same period in 2009.

 

·    Total assets of €5,606.8 million at 30 June 2010, an increase of €489.0 million, or 9.6 per cent, compared with 31 December 2009.

 

·    Loans and advances to customers were €3,204.3 million at 30 June 2010, a decrease of €22.1 million, or 0.7 per cent, compared with 31 December 2009.

 

·    Customer deposits were €4,146.0 million at 30 June 2010, an increase of €59.4 million, or 1.5 per cent, compared with 31 December 2009.

 

·    Return on equity for the six months ended 30 June 2010 was 16.9 per cent, compared with 15.6 per cent for the first half of 2009.

 

 

Commentary

 

HSBC Bank Malta p.l.c. delivered a strong performance in the six months ended 30 June 2010, reporting a profit before tax of €42.2 million. This represents an increase of 21.4 per cent or €7.4 million compared to same period in 2009, substantially driven by an improved level of revenues while keeping costs flat.

 

Net interest income increased by 26.2 per cent to €60.8 million, compared to €48.2 million in the first half of 2009, as a result of the re-pricing of loans during 2009 and the unwinding of term deposits. However, liability margins remain under pressure given the low interest rate environment.

 

Net fees and commission income of €16.9 million for the six months ended 30 June 2010 increased by 11.2 per cent or €1.7 million compared to €15.2 million recorded in the first half of 2009. Strong growth was recorded in lending, card issuance and usage fees and from trust and retail brokerage trading activities.

 

Profits from life insurance business, weakened by recent market conditions, at €3.7 million for the first half of 2010 was 32.5 per cent lower than for the same period in 2009.

 

Operating expenses of €40.8 million for the six months ended 30 June 2010 were in line with those in the first half of 2009. The cost efficiency ratio improved to 48.4 per cent compared to 54.7 per cent for the same period in 2009. This was achieved through strict cost discipline.

 

In a challenging economic environment, net loan impairments charges of €1.4 million were reported for the six months ended 30 June 2010 compared to a release of €0.9 million in the comparable period in 2009. From an extremely low historic base the charge remains at the modest level of 9 basis points of the overall loan book.

 

Total assets grew by €489 million to €5,606.8 million at 30 June 2010 compared to €5,117.8 million at 31 December 2009. The main increases were reported in treasury bills and debt securities investments as part of the bank's liquidity management.

 

The credit quality of the available-for-sale investments portfolio remained satisfactory with an increase in fair value of €6.8 million during the current period compared to €3.8 million for the six months ended 30 June 2009. This increase in fair value is credited directly to the revaluation reserve, net of tax.

 

During the first half of 2010 net loans and advances to customers fell by €22.1 million as, in the current economic environment, borrowers looked to reduce debt levels.  However where lending opportunities arose the bank continued to support its customers' financial needs while maintaining asset quality. Consumer lending showed resilience and good growth was registered in new mortgages. Demand for corporate lending was soft. The quality of the lending portfolio showed a marginal deterioration with non-performing loans representing 3.2 per cent of gross loans as at June 2010 compared to 2.9 per cent as at 31 December 2009. Liquidity and capital ratios remain strong and are well above regulatory requirements.

 

In a period of growing competitive pressures, characterised by a number of local government and corporate bond issues, deposit levels of €4.1 billion were maintained. The bank's liquidity position remains strong with an advances-to-deposits ratio of 77.3 per cent, compared with 79.0 per cent at 31 December 2009.

 

Alan Richards, Director and Chief Executive Officer of HSBC Bank Malta p.l.c., said: "We are encouraged by the bank's strong performance during the first half of 2010. After a period of negative GDP growth, the local economy is showing clear signs of stability and we anticipate continued growth in the foreseeable future. However, challenges within the international economy remain and the broader Eurozone recovery is at best fragile, as the recent sovereign bond crisis has highlighted. We have made good progress during these six months and we continue to emphasise our competitive advantage as an international bank. We remain well capitalised, liquid and very much open for business."

 

The Board is declaring an interim gross dividend of 7.9 euro cent per share (5.1 euro cent net of tax). This will be paid on 24 August 2010 to shareholders who are on the bank's register of shareholders as at 10 August 2010.

 

 

 

 

 

Income Statements for the period 1 January 2010 to 30 June 2010

 

        
 

Group

Bank
 

6 mths to

30/06/10 

6 mths to 30/06/09 

   6 mths to

30/06/10 

6 mths to 30/06/09 
 

€000 

€000 

€000 

€000 

Interest receivable and similar income

        

- on loans and advances, balances with Central Bank of Malta and Treasury Bills

 

75,360 

78,720 

 

75,362 

 

78,719 

- on debt and other fixed income instruments

8,292 

6,994 

6,437 

6,622 

Interest payable

(22,883)

(37,552)

(23,226)

(38,100)

Net interest income

60,769 

48,162 

58,573 

47,241 
         

Fees and commissions receivable

18,122 

16,124 

15,931 

14,906 

Fees and commissions payable

(1,209)

(911)

(1,075)

(750)

Net fee and commission income

16,913 

15,213 

14,856 

14,156 
         

Dividend income

- 

43

538 

9,658

Trading profits

2,877 

3,644 

2,877 

3,644

Net income from insurance financial instruments designated at fair value through profit or loss

 

10,866 

 

6,391

 

- 

 

-

Net gains on sale of available-for-sale financial assets

- 

453 

- 

453

Net earned insurance premiums

28,693 

26,478 

- 

-

Net other operating income

5,841

(4,957)

550 

355

Total operating income

125,959 

95,427 

77,394 

75,507
         

Net insurance claims incurred and movement

  in policyholders' liabilities

 

(41,548)

 

(20,561)

 

-

 

- 

Net operating income

84,411 

74,866 

77,394 

75,507 
         

Employee compensation and benefits

(24,042)

(23,821)

(22,893)

(22,340)

General and administrative expenses

(13,257)

(13,392)

(12,415)

(12,797)

Depreciation

(3,009)

(3,172)

(2,998)

(3,160)

Amortisation

(527)

(588)

(483)

(534)

Net operating income before impairment charges and provisions

 

43,576 

 

33,893 

 

38,605 

 

36,676 

 

Net impairment

 

(1,408)

 

883

 

(1,408)

883

Net provisions for liabilities and other charges

29

(11) 

8

(10)

Profit before tax

42,197 

34,765 

37,205 

37,549 

Tax expense

(14,818)

(12,291)

(13,073)

(11,587)

Profit for the period

27,379 

22,474 

24,132 

25,962
         

Profit attributable to shareholders

27,379 

22,474 

24,132 

25,962
         

Earnings per share

9.4c 

7.7c 

8.3c 

8.9c 
         
         
         
                 


 

 

Statements of Comprehensive Income for the period 1 January 2010 to 30 June 2010

 

 

 

 

 

 

 

Group

Bank

 

6 mths to

30/06/10 

6 mths to   30/06/09 

   6 mths to

30/06/10 

6 mths to 30/06/09 

 

€000 

€000

€000 

€000

 

 

 

 

 

Profit attributable to shareholders

27,379

22,474

24,132

25,962

 

 

 

 

 

Other comprehensive income

 

 

 

 

Available-for-sale investments:

 

 

 

 

- change in fair value

6,758

3,827

5,737

3,463

- change in fair value transferred to profit or loss

-

    (453)

-

(453)

- income taxes

(2,365)

(1,181)

(2,008)

(1,054)

Other comprehensive income for the period, net of tax

4,393

2,193

3,729

1,956

 

 

 

 

 

Total comprehensive income for the period, net of tax

31,772

24,667

27,861

27,918

 

 

 

 

 


 

 

 

 

Statements of Financial Position at 30 June 2010

 

Group

Bank
 

30/06/10 

31/12/09 

30/06/10 

31/12/09 
 

€000 

€000 

€000 

€000 

Assets

        

Balances with Central Bank of Malta,

  Treasury Bills and cash

 

545,542 

 

172,671 

 

545,541 

172,670

Cheques in course of collection

12,051 

10,764 

12,051 

10,764

Financial assets held for trading

20,132 

11,746 

20,831

11,964

Financial assets designated at fair value

  through profit or loss

 

270,938

248,553

 

- 

-

Financial investments

694,355 

478,975

594,855 

380,275

Loans and advances to banks

625,394 

747,657

625,389 

747,582

Loans and advances to customers

3,204,337 

3,226,477

3,204,337 

3,226,477

Shares in subsidiary companies

- 

-

35,707 

35,707

Intangible assets

65,511 

60,691

1,323 

1,741

Property and equipment

64,774 

65,397

64,858 

65,470

Investment property

14,587 

14,588

11,664 

11,665

Assets held for sale

9,870 

10,604

9,870 

10,604

Current tax recoverable

6,174 

6,164

4,543 

4,516

Deferred tax assets

7,709 

9,053

7,402 

8,766

Other assets

26,591 

20,712

9,764 

7,931

Prepayments and accrued income

38,855 

33,748

34,577 

30,006

Total assets

5,606,820 

5,117,800

5,182,712 

4,726,138
         

Liabilities

        

Financial liabilities held for trading

18,241 

11,044

18,241 

11,046

Amounts owed to banks

515,432 

168,771

515,385 

168,771

Amounts owed to customers

4,146,044 

4,086,669

4,211,632 

4,146,295

Provision for current tax

8,973 

207

8,512 

-

Deferred tax liabilities

20,507

18,851

- 

-

Liabilities to customers under investment contracts

17,022 

16,853

- 

-

Liabilities under insurance contracts issued

382,271 

351,513

- 

-

Other liabilities

51,470 

35,479

46,927 

32,221

Accruals and deferred income

35,039 

33,422

34,350 

33,068

Provisions for liabilities and other charges

548 

577

506 

514

Subordinated liabilities

87,854 

87,827

87,854 

87,827

Total liabilities

5,283,401 

4,811,213

4,923,407 

4,479,742

 

Equity

 

 

    

Share capital

87,552 

87,552

87,552 

87,552

Revaluation reserve

30,218 

25,825

28,759 

25,030

Retained earnings

205,649 

193,210

142,994 

133,814

Total equity

323,419 

306,587

259,305 

246,396

Total liabilities and equity

5,606,820 

5,117,800

5,182,712

4,726,138

 

 

      

Memorandum items

 

      

Contingent liabilities

122,727 

119,449

122,750 

119,472

Commitments

906,789 

923,900

906,789 

923,900


 

The financial statements were approved by the Board of Directors on 30 July 2010 and signed on its behalf by:

 

Albert Mizzi, Chairman                                                                                  Alan Richards, Chief Executive Officer
 
 

 

Statements of Changes in Equity for the period 1 January 2010 to 30 June 2010
   
 

Share capital

Revaluation

reserve

Retained earnings

Total

 equity

 

Group

€000 

€000 

€000 

€000 

 

At 1 January 2010

 

87,552 

 

25,825 

 

193,210 

 

306,587 
         

Profit for the period

- 

- 

27,379 

27,379 
         

Other comprehensive income

        

  Available-for-sale investments:

        

  - change in fair value, net of tax

- 

4,393 

- 

4,393 

Total other comprehensive income

- 

4,393 

- 

4,393 

Total comprehensive income for the period

- 

4,393 

27,379 

31,772 
         

Transactions with owners, recorded

 directly in equity

        

 Share-based payments

- 

- 

236 

236 

 Dividends

- 

- 

(15,176)

(15,176)

Total contributions by and distributions to owners

- 

- 

(14,940)

(14,940)
 

At 30 June 2010

87,552 

 

30,218 

205,649 

323,419 

 
         

 

At 1 January 2009

 

87,552 

 

15,149 

 

179,776 

 

282,477 
         

Profit for the period

- 

- 

22,474 

22,474 
         

Other comprehensive income

        

  Available-for-sale investments:

        

  - change in fair value, net of tax

- 

2,487

- 

2,487

  - change in fair value transferred

     to profit or loss, net of tax

- 

(294)

- 

(294)

 

Total other comprehensive income

 

- 

 

2,193

 

- 

 

2,193

Total comprehensive income for the period

- 

2,193

22,474 

24,667 
         

Transactions with owners, recorded

 directly in equity

        

Share-based payments

- 

- 

112 

112 

Dividends

- 

- 

(18,211)

(18,211)

Total contributions by and distributions to owners

 

- 

- 

(18,099)

(18,099)

At 30 June 2009

87,552 

17,342 

184,151 

289,045 
         


 

 

Statements of Changes in Equity for the period 1 January 2010 to 30 June 2010
   
 

Share capital

Revaluation

reserve

Retained earnings

Total

 equity

 

Bank

€000 

€000 

€000 

€000 

 

At 1 January 2010

 

 87,552

 

25,030 

 

133,814 

 

246,396 
         

Profit for the period

-

- 

24,132 

24,132 
         

Other comprehensive income

        

  Available-for-sale investments:

        

  - change in fair value, net of tax

-

3,729 

- 

3,729 

Total other comprehensive income

-                     -

3,729 

- 

3,729 

Total comprehensive income for the period

-

3,729 

24,132 

27,861 
         

Transactions with owners, recorded

 directly in equity

        

Share-based payments

- 

- 

224 

224 

Dividends

- 

- 

(15,176)

(15,176)

Total contributions by and distributions to owners

- 

- 

(14,952)

(14,952)

At 30 June 2010

87,552 

 

28,759 

142,994 

259,305 

 
         

At 1 January 2009

87,552 

15,314 

121,606 

224,472
         

Profit for the period

- 

- 

25,962 

             25,962 
         

Other comprehensive income

        

  Available-for-sale investments:

        

  - change in fair value, net of tax

- 

2,250 

- 

               
2,250

 

  - change in fair value transferred

    to profit or loss, net of tax

- 

(294)

- 

                (294)



Total other comprehensive income

 

- 

1,956 

- 

                1,956

Total comprehensive income for the period

- 

1,956 

25,962 

             27,918
         

Transactions with owners, recorded

 directly in equity

        


Share-based payments

- 

- 

137 

                   137

Dividends

- 

- 

(18,211)

             (18,211)

Total contributions by and distributions to owners

 

- 

- 

(18,074)

           (18,074)

At 30 June 2009

87,552 

17,270 

129,494 

            234,316
         
         


 


 

 

Statements of Cash Flows for the period 1 January 2010 to 30 June 2010

 
               

 

Group

  

Bank

 
 

6 mths to

30/06/10 

  

6 mths to

30/06/09 

  

6 mths to

30/06/10 

  

6 mths to

30/06/09 

 
 

€000 

  

€000 

  

€000 

  

€000 

 
               

 

Cash flows (used in)/from operating activities

 

            

 

Interest, commission and premium receipts

124,544

  

137,090

  

92,153 

  

108,441

 

Interest, commission and claims payments

(31,330)

  

(52,702)

  

(22,767)

  

(44,130)

 

Payments to employees and suppliers

(40,869)

  

(42,641)

  

(35,561)

  

(40,487)

 

Operating profit before changes in operating assets/liabilities

52,345

  

 

41,747

  

 

33,825 

  

 

      23,824

 

(Increase)/decrease in operating assets:

              

 

Trading instruments

(16,297)

  

19,572

  

- 

  

150

 

Reserve deposit with Central Bank of Malta

(8,390)

  

4,066

  

(8,390) 

  

4,066

 

Loans and advances to customers and banks

(1,202)

  

176,032

  

(1,266) 

  

176,031

 

Treasury Bills

(362,745)

  

(58,958)

  

(362,745)

  

(76,342)

 

Other receivables

(19,074)

  

(5,040)

  

(2,887)

  

(5,744)

 

Increase/(decrease) in operating liabilities:

              

 

Customer accounts and amounts owed to

  banks

55,146

  

 

(25,575)

  

 

60,501 

  

 

9,940

 

Other payables

28,086

  

26,401

  

14,620 

  

17,149

 

Net cash (used in)/from operating activities before tax

(272,131)

  

 

178,245

  

 

(266,342) 

  

 

149,074

 

Tax paid

(5,421)

  

(7,372)

  

(5,171)

  

(6,840)

 

Net cash (used in)/from operating activities

(277,552)

  

170,873

  

(271,513)

  

142,234

 

Cash flows (used in)/from investing activities

              

 

Dividends received

21

  

29

  

349 

  

8,028

 

Interest received from financial investments

7,487

  

8,930

  

5,590 

  

8,801

 

Proceeds from sale and maturity of financial investments

35,693

  

 

119,970

  

 

35,693 

  

 

117,479

 

Proceeds on sale of property and equipment and intangible assets

390

  

 

-

  

 

349 

  

 

-

 

Purchase of financial investments

(243,473)

  

(118,721)

  

(243,569)

  

(90,459)

 

Purchase of property and equipment, investment property and intangible assets

(2,804)

  

 

(1,084)

  

 

(2,773)

  

 

(1,077)

 

Net cash (used in)/from investing activities

(202,686)

  

9,124

  

(204,361)

  

42,772

 

Cash flows used in financing activities

              

 

Dividends paid

(15,176)

  

(18,211)

  

(15,176)

  

(18,211)

 

Cash used in financing activities

(15,176)

  

(18,211)

  

(15,176)

  

     (18,211)

 

(Decrease)/increase in cash and

  cash equivalents

(495,414)

  

 

161,786

  

 

(491,050)

  

 

166,795

 

Effect of exchange rate changes

  on cash and cash equivalents

65,816

  

 

17,467

  

 

65,816 

  

 

17,467

 

Net (decrease)/increase in cash and

  cash equivalents

(561,230)

  

 

144,319

  

 

(556,866)

  

 

149,328

 
 

(495,414)

  

161,786

  

(491,050)

  

166,795

 

Cash and cash equivalents at beginning of

 period

548,815

  

 

304,595

  

 

544,447 

  

 

299,572

 

Cash and cash equivalents at end of

  period

53,401

  

 

466,381

  

 

53,397 

  

 

466,367

 
                         


Segmental Information

      
                     

 

The group's segments are organised into three business lines: Personal Financial Services, Commercial Banking and Global Banking and Markets.  The business lines reflect the way the CEO, as chief operating decision-maker, reviews financial information in order to make decisions about allocating resources and assessing performance.

 
           

 
 

Personal

Financial Services

Commercial

Banking

Global Banking and Markets

Intersegment

Group Total

 
 

6 mths to

6 mths to

6 mths to

6 mths to

6 mths to

6 mths to

6 mths to

6 mths to

6 mths to

6 mths to

 
 

30/06/10

 30/06/09

30/06/10

 30/06/09

30/06/10

 30/06/09

30/06/10

 30/06/09

30/06/10

 30/06/09

 
 

€000

€000

€000

€000

€000

€000

€000

€000

€000

€000

 

Group

                    

 

Net interest income

                    

 

 - external

25,915

8,532

28,486

30,852

6,368

8,778

-

-

60,769

48,162

 

 - inter-segment

7,307

15,830

(5,323)

(7,769)

(1,984)

(8,061)

-

-

-

-

 
 

33,222

24,362

23,163

23,083

4,384

717

-

-

60,769

48,162

 

Net non-interest income

                    

 

 - external

11,921

13,917

7,806

7,710

3,915

5,077

-

-

23,642

26,704

 

 - inter-segment

57

88

-

-

68

(88)

(125)

-

-

-

 
 

11,978

14,005

7,806

7,710

3,983

4,989

(125)

-

23,642

26,704

 
                     

 

 External employee compensation and benefits

 

(17,230)

 

(15,907)

 

(5,649)

 

(6,683)

 

(1,163)

 

(1,231)

 

-

 

-

 

(24,042)

 

(23,821)

 
                     

 

General and administrative expenses

                    

 

 - external

(9,373)

(9,604)

(2,861)

(2,834)

(1,023)

(954)

-

-

(13,257)

(13,392)

 

 - inter-segment

(125)

- 

- 

- 

- 

-

125

-

-

-

 
 

(9,498)

(9,604)

(2,861)

(2,834)

(1,023)

(954)

125

-

(13,257)

(13,392)

 
                     

 

External depreciation

(2,210)

(2,256)

(791)

(907)

(8)

(9)

-

-

(3,009)

(3,172)

 
                     

 

External amortisation

(370)

(392)

(126)

(165)

(31)

(31)

-

-

(527)

(588)

 
                     

 

External net impairment   

(1,124)

(967)

(284)

1,850

-

-

-

-

(1,408)

883

 

External net provisions for liabilities and other charges

8

- 

- 

(10)

21

(1)

-

-

29

(11)

 

Profit before tax

14,776

9,241

21,258

22,044

6,163

3,480

-

-

42,197

34,765

 

 

                    

 

 

30/06/10

 31/12/09

30/06/10

  31/12/09

30/06/10

 31/12/09

30/06/10

 31/12/09

30/06/10

  31/12/09

 
 

€000

€000

€000

€000

€000

€000

€000

€000

€000

€000

 

Assets

                    

 

Segment total assets

2,185,197

2,129,646

1,639,941

1,682,729

1,781,682

1,305,425

-

-

5,606,820

5,117,800

 

Average total assets

2,157,421

2,051,891

1,661,335

1,675,252

1,543,554

1,479,801

-

-

5,362,310

5,206,944

 

Total equity

147,500

113,280

137,861

159,636

38,058

33,671

-

-

323,419

306,587

 
                     

 
                                           


Basis of preparation

 

The condensed interim financial statements have been extracted from HSBC Bank Malta p.l.c.'s (the 'bank') and its subsidiary undertakings (collectively referred to as the 'group') unaudited management accounts for the six month period ended 30 June 2010.  These condensed interim financial statements are being published in terms of Chapters 8 and 9 of the Listing Rules issued by the Listing Authority and in terms of the Prevention of Financial Markets Abuse Act, 2005.
 
The condensed interim financial statements have been prepared in accordance with accounting standards adopted for use in the EU for interim financial statements (EU adopted IAS 34, Interim Financial Reporting).  They do not include all of the information required for full annual financial statements, and should be read in conjunction with the financial statements for the year ended 31 December 2009.
 
The accounting policies applied in these condensed interim financial statements are the same as those applied by the group in its financial statements as at and for the year ended 31 December 2009.
 
As required by the EU adopted IAS 34, Interim Financial Reporting, these interim financial statements include comparative statements of financial position information at the previous financial year end and comparative income statements and statements of comprehensive income information for the comparable interim periods of the immediately preceding financial year.

 

Related party transactions with other members of the HSBC Group covering the period 1 January to 30 June 2010 have not materially affected the performance for the period under review.


HSBC Bank Malta p.l.c. is a member of the HSBC Group, whose ultimate parent company is HSBC Holdings plc. Headquartered in London, HSBC Holdings plc is one of the largest banking and financial services organisations in the world. The HSBC Group's international network comprises around 8,000 offices in 88 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa.

 

 

Statement pursuant to Listing Rule 9.44k.3 issued by the Listing Authority

 

 I confirm that to the best of my knowledge:

 

·      the condensed interim financial statements give a true and fair view of the financial position as at 30 June 2010, financial performance and cash flows for the period then ended, in accordance with accounting standards adopted for use in the EU for interim financial statements (EU adopted IAS 34 'Interim Financial Reporting'); and

 

·      the commentary includes a fair review of the information required in terms of Listing Rule 9.44k.2.

 

  

 

                                                                                                Alan Richards, Chief Executive Officer


 

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

HSBC Holdings plc

By:       

Name: P A Stafford

Title: Assistant Group Secretary

Date: 30 July, 2010