Full Year 2024 HSBC Holdings PLC Fixed Income Transcript
(audio in progress)
-- Case, Head of Debt Investor Relations; and Mark Phin, Head of Equity Investor Relations.
I'll keep my opening remarks brief as I'm sure you've had a chance to go through the results already today. As usual, there's a comprehensive deck for fixed income investors available on our website, and we'll share a few selected slides as I talk. Once I'm finished, we'll go straight to Q&A.
So we're pleased with our strong 2024 results, which sets us up well for 2025 as we celebrate our 160th year. We've delivered record profit before tax of $32.3 billion or $34.1 billion excluding notable items. The return on tangible equity was 14.6% or 16% excluding notable items in line with our mid-teens ROTE guidance. We announced a total of $26.9 billion of distribution to our shareholders in respect of '24, while retaining a CET1 ratio above our target operating range.
In the fourth quarter, we announced actions to simplify HSBC, empowering our two home markets, the UK and Hong Kong. We've enhanced the focus
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