HSBC Holdings Limited (“HSBC”) completed the transaction on 28 March 2024 for the sale of its wholly owned subsidiary HSBC Bank Canada and its subsidiaries to Royal Bank of Canada. The sale is based on a strategic review of HSBC Canada, which considers the sale to be the best strategic move for both the HSBC Group and HSBC Canada and will unlock significant value. HSBC Group CEO Bai Yao said the transaction was a significant milestone in HSBC's transformation and would use the proceeds to expand its core business, including the distribution of a special dividend of $0.21 per share to give back to shareholders. After the transaction is completed, HSBC expects to confirm a profit on the sale of approximately $49 billion in the first quarter of 2024, and expects the common equity tier one capital ratio to increase by 0.7 percentage points. HSBC plans to announce a special dividend at the time of its first quarter earnings announcement on 30 April 2024 and is expected to be distributed in June 2024.

HSBC Holdings Limited (“HSBC”) completed the transaction on 28 March 2024 for the sale of its wholly owned subsidiary HSBC Bank Canada and its subsidiaries to Royal Bank of Canada. The sale is based on a strategic review of HSBC Canada, which considers the sale to be the best strategic move for both the HSBC Group and HSBC Canada and will unlock significant value. HSBC Group CEO Bai Yao said the transaction was a significant milestone in HSBC's transformation and would use the proceeds to expand its core business, including the distribution of a special dividend of $0.21 per share to give back to shareholders. After the transaction is completed, HSBC expects to confirm a profit on the sale of approximately $49 billion in the first quarter of 2024, and expects the common equity tier one capital ratio to increase by 0.7 percentage points. HSBC plans to announce a special dividend at the time of its first quarter earnings announcement on 30 April 2024 and is expected to be distributed in June 2024.