Hang Seng PT1

HSBC Holdings PLC
31 July 2006

                             HANG SENG BANK LIMITED
                       2006 INTERIM RESULTS - HIGHLIGHTS

   •Operating profit excluding loan impairment charges and other credit risk
    provisions up 7.6 per cent to HK$6,387 million (HK$5,934 million for the
    first half of 2005).

   •Operating profit up 12.8 per cent to HK$6,353 million (HK$5,632 million
    for the first half of 2005).

   •Pre-tax profit up 6.4 per cent to HK$7,513 million (HK$7,062 million for
    the first half of 2005).

   •Attributable profit up 2.4 per cent to HK$6,190 million (HK$6,045
    million for the first half of 2005).

   •Return on average shareholders' funds of 29.0 per cent (29.7 per cent
    for the first half of 2005).

   •Assets up 8.2 per cent to HK$628.3 billion (HK$580.8 billion at 31
    December 2005).

   •Earnings per share up 2.5 per cent to HK$3.24 (HK$3.16 per share for the
    first half of 2005).

   •Second interim dividend of HK$1.10 per share; total dividends of HK$2.20
    per share for the first half of 2006 (HK$2.20 per share for the first half
    of 2005).

   •Total capital ratio of 14.2 per cent (12.8 per cent at 31 December
    2005); tier 1 capital ratio of 11.0 per cent (10.4 per cent at 31 December 
    2005).

   •Cost efficiency ratio of 26.8 per cent (26.7 per cent for the first half
    of 2005).

Within this document, the Hong Kong Special Administrative Region of the People's 
Republic of China has been referred to as 'Hong Kong'.

Comment by Michael Smith, Chairman

"Hang Seng made solid progress in the first half of 2006, supported by a buoyant
local economy. Steps to expand and diversify our customer base led to increases
in total deposits and loan balances. Together with the effects of rising
interest rates, these increases underpinned growth in net interest income.

"We expanded our wealth management and commercial banking businesses, with good
growth in investment services and insurance, trading profit and trade finance.

"Operating profit excluding loan impairment charges and other credit risk
provisions was HK$6,387 million, an increase of HK$453 million, or 7.6 per cent,
compared with the first half of 2005. Operating profit was up 12.8 per cent at
HK$6,353 million, reflecting the 18.1 per cent growth in total operating income
and the 88.7 per cent reduction in loan impairment charges. Investment in
business expansion saw operating expenses rise by 8.4 per cent to HK$2,338
million.

"Attributable profit after taxation and minority interests was HK$6,190 million,
an increase of 2.4 per cent compared with the same period last year, which
benefited from a large property revaluation surplus.

"Personal Financial Services' operating profit excluding loan impairment charges
rose by 7.0 per cent to HK$3,960 million, reflecting a 23.9 per cent increase in
wealth management income to HK$2,211 million, which was driven by strong growth
in our securities, life insurance and private banking businesses.

"Further efforts to deepen relationships with customers saw Commercial Banking's
operating profit excluding loan impairment charges increase by 21.8 per cent to
HK$933 million. Total loans were up 9.9 per cent compared with the end of 2005,
supported by good growth in commercial loans and trade finance. Net fees and
commissions were up 21.2 per cent.

"Corporate Banking's operating profit excluding loan impairment charges fell by
8.2 per cent to HK$257 million as high levels of liquidity and market
competition among lenders continued to exert downward pressure on pricing.

"Rising interest rates further compressed spreads on treasury balance sheet
management portfolios. This outweighed the encouraging 201.6 per cent growth in
net trading income with Treasury recording a 39.0 per cent decline in operating
profit excluding loan impairment charges to HK$444 million.

"We moved forward with our strategy to grow our mainland China business. We
invested in our customer services by hiring around 100 new staff. We also opened
a new Shanghai sub-branch, bringing our total number of outlets to 13. Mainland
lending and deposits rose by 21.7 per cent and 11.2 per cent respectively.
Profit from our investment in Industrial Bank was up 10.0 per cent at HK$209
million.

"The outlook for the rest of the year remains broadly positive with interest
rate trends likely to have the greatest influence on economic performance.
Sustained strong growth on the Mainland should continue to benefit Hong Kong's
exports and re-exports, although a slight decline in trade activity is likely.
Higher interest rates may restrain domestic demand slightly, particularly in the
property sector, but consumption will be supported by improvement in the labour
market.

"Competition in the banking sector will remain keen. We will further build our
capabilities in areas such as wealth management, small and medium-sized
enterprise services and consumer lending that offer good growth prospects. We
will continue to expand our mainland business and invest in our staff, brand and
delivery channels."

Results summary

Hang Seng Bank Limited ('the bank') and its subsidiaries and associates ('the
group') reported an unaudited profit attributable to shareholders of HK$6,190
million for the first half of 2006, an increase of 2.4 per cent over the first
half of 2005. Earnings per share were up 2.5 per cent to HK$3.24. Compared with
the second half of 2005, attributable profit rose by 16.9 per cent.

Operating income

Total operating income rose by HK$1,897 million, or 18.1 per cent, to HK$12,396
million. This reflects encouraging growth in net interest income, trading profit
and investment services and insurance income, underpinned by the good economic
environment and the buoyant investment market.

Net interest income rose by HK$1,111 million, or 21.1 per cent, over the first
half of 2005, excluding HK$847 million in net interest expenses on the trading
and fair value portfolios. Including these portfolios, net interest income rose
by HK$196 million, or 3.7 per cent. The spreads on Best Lending Rate ('BLR')
-based loans improved, benefiting from a wider BLR/HIBOR gap. The rise in market
interest rates enhanced the deposit spreads and the contribution from net free
funds. These outweighed the further compression of treasury balance sheet
management portfolio yields and the continuing pressure on mortgage pricing and
corporate loan margins. Average interest earning assets (excluding the trading
and fair value portfolios) grew by 8.7 per cent and net interest margin improved
by 24 basis points to 2.37 per cent.

Securities broking and related services and private banking investment services
benefited from the buoyant equities market, reporting growth in fees and
commissions of 88.4 per cent and 68.4 per cent respectively. These increases,
together with the growth in card services income, contributed significantly to
the rise of HK$205 million, or 13.0 per cent, in net fees and commissions.

Net trading income comprises trading profits of HK$659 million, which rose by
69.4 per cent over the same period last year. Foreign exchange income rose by
120.2 per cent, attributable to improvement in trading results, increased
customer flows and spreads earned on foreign exchange linked structured
products. After deducting HK$879 million in net interest expenses, which rose
significantly due to the growth in structured deposits classified as trading
liabilities, a net trading loss of HK$220 million was reported.

Net earned insurance premiums increased by HK$1,226 million, or 44.9 per cent,
compared with the first half of 2005, reflecting strong growth in life insurance
business. Riding on the successful launch of the Monthly Income Retirement Plan,
Hang Seng Life Limited continued to gain market share in terms of new annualised
premiums. The investment return on the life insurance funds, reported under net
income from financial instruments designated at fair value, also improved under
the favourable investment environment.

Net operating income before loan impairment charges and other credit provisions
increased by HK$635 million, or 7.8 per cent.

Operating expenses rose by HK$182 million, or 8.4 per cent, to HK$2,338 million,
mainly due to salary increases and costs associated with hiring new staff for
business expansion.

Operating profit

Operating profit excluding loan impairment charges rose by HK$453 million, or
7.6 per cent, compared with the first half of 2005. Taking into account the
substantial reduction of 88.7 per cent in loan impairment charges to HK$34
million, operating profit recorded strong growth of HK$721 million, or 12.8 per
cent, to reach HK$6,353 million. Compared with the second half of 2005,
operating profit excluding loan impairment charges rose by 11.0 per cent and
operating profit increased by 16.9 per cent.

Attributable profit

Pre-tax profit was HK$7,513 million, an increase of 6.4 per cent over the same
period last year. This figure takes into account profit on disposal of fixed
assets and financial investments (up 64.9 per cent), net surplus on property
revaluation (down 63.7 per cent) and share of profits from associates (up 30.7
per cent). Attributable profit after taxation and minority interests rose by
HK$145 million, or 2.4 per cent, to HK$6,190 million. Compared with the second
half of 2005, pre-tax profit and attributable profit rose by 19.3 per cent and
16.9 per cent respectively.

Balance sheet and key ratios

Total assets grew by HK$47.5 billion, or 8.2 per cent, during the first half of
2006 to HK$628.3 billion. This was driven by the encouraging growth of 5.4 per
cent in customer deposits and certificates of deposit and other instruments in
issue and a 22.2 per cent rise in life insurance funds. Customer advances rose
by 2.2 per cent. In line with the bank's strategy to diversify its loan
portfolio, good growth was recorded in trade finance, commercial banking
advances, mortgages and personal loans, outweighing declines in mortgages under
the suspended Government Home Ownership Scheme ('GHOS') and lending to large
corporations. The increase in customer deposits also funded the growth in
interbank placing and money market instruments. At 30 June 2006, the
advances-to-deposits ratio was 52.8 per cent, compared with 54.4 per cent at the
end of 2005.

Shareholders' funds (excluding proposed dividends) rose by HK$2,677 million, or
6.9 per cent, to HK$41,615 million at 30 June 2006. This reflects the HK$2,575
million growth in retained profits, including the realisation of property
revaluation reserves on properties disposed of during the first half of this
year.

The return on average total assets was 2.1 per cent, compared with 2.2 per cent
in the first half of 2005. The return on average shareholders' funds was 29.0
per cent (29.7 per cent in the first half of 2005).

The total capital ratio strengthened to 14.2 per cent at 30 June 2006, up from
12.8 per cent at the end of 2005. The tier 1 ratio rose from 10.4 per cent to
11.0 per cent. The growth in capital base reflects the increase in retained
profits, which included the realisation of property revaluation reserves on
properties disposed of during the period, and a US$450 million subordinated
notes issue.

The bank maintained a strong liquidity position. The average liquidity ratio for
the first half of 2006 was 50.9 per cent (calculated in accordance with the
Fourth Schedule of the Hong Kong Banking Ordinance), compared with an average
liquidity ratio of 43.6 per cent for the same period last year.

The cost efficiency ratio for the first half of 2006 was 26.8 per cent, compared
with 26.7 per cent for the same period in 2005.

Dividends

The Directors have declared a second interim dividend of HK$1.10 per share,
which will be payable on 31 August 2006 to shareholders on the register of
shareholders as of 23 August 2006. Together with the first interim dividend of
HK$1.10 per share, the total distribution for the first half of 2006 will amount
to HK$2.20 per share, the same as that in the first half of 2005.

Customer group performance

                      Personal                                                               Inter-
                     Financial    Commercial     Corporate                                  segment
Figures in HK$m       Services       Banking       Banking      Treasury        Other   elimination        Total

Half-year ended
30Jun06

Net interest income      3,543           920           293           175          563           881        6,375
Net fee income           1,334           394            40           (13)          27             -        1,782
Net trading income         252            70             4           368            -          (914)        (220)
Net income from 
  financial instruments
  designated at fair 
  value                     50             -             -            (1)           -            33           82
Dividend income              3             -             -             -           28             -           31
Net earned insurance     
  premiums               3,872            81             1             -            -             -        3,954
Other operating income     273            15             -             -          104             -          392
Inter-segment income         -             -             -             -          191          (191)           -
Total operating income   9,327         1,480           338           529          913          (191)      12,396
Net insurance claims
  incurred and 
  movement in 
  policyholder        
  liabilities           (3,641)          (30)            -             -            -             -       (3,671)
Net operating income
  before loan 
  impairment (charges)/ 
  releases and other 
  credit risk  
  provisions             5,686         1,450           338           529          913          (191)       8,725
Loan impairment 
  (charges)/ releases 
  and other credit 
  risk provisions          (74)           26            14             -            -             -          (34)
Net operating income     5,612         1,476           352           529          913          (191)       8,691
Total operating         
  expenses^             (1,561)         (498)          (78)          (81)        (120)            -       (2,338)
Inter-segment expenses    (165)          (19)           (3)           (4)           -           191            -
Operating profit         3,886           959           271           444          793             -        6,353
Profit on disposal of 
  fixed assets and 
  financial investments      -             -             -             -          574             -          574
Net surplus on property
  revaluation                -             -             -             -          318             -          318
Share of profits from             
  associates                11           137             -            62           58             -          268
Profit before tax        3,897         1,096           271           506        1,743             -        7,513
Share of pre-tax 
  profit                  51.9%         14.6%          3.6%          6.7%        23.2%            -        100.0%

Operating profit 
  excluding inter-
  segment           
  transactions           4,051           978           274           448          602             -        6,353

Operating profit 
  excluding loan 
  impairment (charges)
  /releases and other 
  credit risk 
  provisions             3,960           933           257           444          793             -        6,387

^ Depreciation/
    amortisation
    included in total
    operating expenses     (51)           (4)           (2)           (1)         (96)            -         (154)
        
At 30Jun06

Total assets           160,551        59,758        72,230       305,126       30,624             -      628,289
Total liabilities      399,620        71,670        39,398        48,950       23,653             -      583,291
Investments in        
  associates               131         1,649             -           745          742             -        3,267
Capital expenditure
  incurred during 
  the period                69            10             3             3           57             -          142

                     Personal                                                               Inter-
                    Financial    Commercial     Corporate                                  segment
Figures in HK$m      Services       Banking       Banking      Treasury        Other   elimination        Total

Half-year ended
30Jun05

Net interest income     3,363           734           302           686          257           (78)       5,264
Net fee income          1,196           325            39           (11)          28             -        1,577
Net trading income        173            60             3           122            -            75          433
Net income from
  financial 
  instruments
  designated at 
  fair value               31             -             -            14            2             3           50
Dividend income             3             1             -             -           33             -           37
Net earned insurance   
  premiums              2,619           109             -             -            -             -        2,728
Other operating 
  income                  293            13             2             -          102             -          410
Inter-segment income        -             -             -             -          154          (154)           -
Total operating 
  income                7,678         1,242           346           811          576          (154)      10,499
Net insurance claims
  incurred and 
  movement in 
  policyholder       
  liabilities          (2,387)          (22)            -             -            -             -       (2,409)
Net operating income
  before loan 
  impairment (charges)/ 
  releases and other 
  credit risk  
  provisions            5,291         1,220           346           811          576          (154)       8,090
Loan impairment
  (charges)/ releases 
  and other credit 
  risk provisions         260          (453)         (109)            -            -             -         (302)
Net operating income    5,551           767           237           811          576          (154)       7,788
Total operating       
  expenses^            (1,468)         (429)          (63)          (80)        (116)            -       (2,156)
Inter-segment 
  expenses               (123)          (25)           (3)           (3)           -           154            -
Operating profit        3,960           313           171           728          460             -        5,632
Profit on disposal 
  of fixed assets 
  and financial 
  investments               -             -             -             -          348             -          348
Net surplus on 
  property 
  revaluation               -             -             -             -          877             -          877
Share of profits 
  from   
  associates               10           124             -            56           15             -          205
Profit before tax       3,970           437           171           784        1,700             -        7,062
Share of pre-tax         
  profit                 56.2%          6.2%          2.4%         11.1%        24.1%            -        100.0%

Operating profit 
  excluding inter-
  segment 
  transactions          4,083           338           174           731          306             -        5,632

Operating profit
  excluding loan 
  impairment (charges)/
  releases and other 
  credit risk 
  provisions            3,700           766           280           728          460             -        5,934

^ Depreciation/
    amortisation 
    included in
    total operating
    expenses              (50)           (9)           (1)           (1)         (78)            -         (139)

At 30Jun05

Total assets          146,398        54,865        80,182       267,687       23,101             -      572,233
Total liabilities     353,402        75,517        29,628        61,214       10,041             -      529,802
Investments in        
  associates               96         1,210             -           546          597             -        2,449
Capital expenditure 
  incurred during 
  the period               63            13             5             1           15             -           97

                     Personal                                                               Inter-
                    Financial    Commercial     Corporate                                  segment
Figures in HK$m      Services       Banking       Banking      Treasury        Other   elimination        Total

Half-year ended
31Dec05

Net interest income     3,737           853           310           172          257           475        5,804
Net fee income            905           341            40           (10)          21             -        1,297
Net trading income        194            74             3           381            -          (506)         146
Net income from 
  financial 
  instruments
  designated at fair
  value                   (64)            -             -            (9)          (6)           31          (48)
Dividend income             2             4             -             -           17             -           23
Net earned insurance    
  premiums              5,023           114             -             -            -             -        5,137
Other operating 
  income                  269            12             2             -          105             -          388
Inter-segment income        -             -             -             -          154          (154)           - 
Total operating 
  income               10,066         1,398           355           534          548          (154)      12,747
Net insurance claims
  incurred and
  movement in
  policyholder 
  liabilities          (4,577)          (28)            -             -            -             -       (4,605)
Net operating income
  before loan 
  impairment (charges)/
  releases and other
  credit risk 
  provisions            5,489         1,370           355           534          548          (154)       8,142
Loan impairment
  (charges)/ releases 
  and other credit 
  risk provisions         (28)         (350)           62             -            -             -         (316)
Net operating income    5,461         1,020           417           534          548          (154)       7,826
Total operating       
  expenses^            (1,618)         (474)          (79)          (77)        (142)            -       (2,390)
Inter-segment 
  expenses               (135)          (15)           (2)           (2)           -           154            -
Operating profit        3,708           531           336           455          406             -        5,436
Profit on disposal
  of fixed assets 
  and financial 
  investments               -             -             -          (217)         346             -          129
Net surplus on 
  property
  revaluation               -             -             -             -          436             -          436
Share of profits from    
  associates                8           110             -            50          127             -          295
Profit before tax       3,716           641           336           288        1,315             -        6,296
Share of pre-tax     
  profit                 59.0%         10.2%          5.3%          4.6%        20.9%            -        100.0%

Operating profit
  excluding inter-
  segment 
  transactions          3,843           546           338           457          252             -        5,436
 
Operating profit 
  excluding loan
  impairment (charges)/
  releases and other        
  credit risk 
  provisions            3,736           881           274           455          406             -        5,752

^ Depreciation/
    amortisation 
    included in 
    total operating 
    expenses              (53)           (4)           (2)           (1)         (90)            -         (150)

At 31Dec05

Total assets          152,086        54,319        77,514       266,645       30,256             -      580,820
Total liabilities     372,941        77,249        31,672        33,541       21,687             -      537,090
Investments in      
  associates              116         1,454             -           657          702             -        2,929
Capital expenditure
  incurred during 
  the period               44             7             2             1           80             -          134


Personal Financial Services ('PFS') reported an operating profit excluding loan
impairment charges of HK$3,960 million, an increase of 7.0 per cent over the
first half of 2005, driven by the encouraging growth of investment services and
insurance businesses. Net interest income rose by 5.4 per cent. The spread of
BLR-based lending benefited from a wider BLR/HIBOR spread despite continued
pressure on mortgage pricing. While average customer deposits recorded
encouraging growth of 9.1 per cent over the same period last year, there has
been a significant shift of Hong Kong dollar savings to time deposits, thus
lifting the overall funding cost for PFS. Fees and commissions recorded strong
growth of 11.5 per cent, contributed by securities broking and related services,
private banking and card services. The launch of more diversified structured
investment and deposit products boosted net trading income, which grew by 45.7
per cent. Life insurance maintained its strong growth momentum and reported a
28.4 per cent rise in income. At the pre-tax profit level, PFS recorded a fall
of 1.8 per cent compared with the same period last year which benefited from
large releases in loan impairment allowances for mortgages and personal loans.

Wealth management remained the growth driver of PFS's performance. PFS offers a
highly diversified range of investment services and products through a wide
distribution network and an efficient and convenient e-banking platform. PFS's
Investment Supermart offers over 400 investment funds. Benefiting from the
buoyant stock market, income from securities broking and related services rose
by 83.5 per cent and trading volume grew 101.3 per cent. Securities broking
expanded its customer base and gained market share through promotional campaigns
and special offers to acquire new customers and encourage active trading. Equity
funds and high-yield fixed income funds built on the previous success of capital
guaranteed funds and achieved record sales. Various structured investment and
deposit products were developed to capture movements in the equity, foreign
exchange and commodity markets to enhance investment returns for customers.
Private banking further strengthened its relationship management and advisory
team, and continued to deliver outstanding performance, with 42.1 per cent
growth in total operating income.

PFS achieved 4.1 per cent growth in customer advances and further diversified
its loan portfolio. During the first half of 2006, residential property prices
remained stable but market activity slowed down. With the widening of the BLR/
HIBOR gap, major market players started to launch price promotion campaigns to
compete for market share. The bank achieved growth of 1.8 per cent in loan
balances and gained market share by offering a diverse range of products,
adopting a flexible pricing strategy and launching joint offers with developers.
Personal loans grew by 16.8 per cent following the introduction of new loan
products and the streamlining of credit approval procedures. Credit card
advances fell by 1.9 per cent over the previous year-end due to the repayment of
tax bill payment balances, but recorded a growth of 15.2 per cent year-on-year.
Cards in issue reached 1.32 million, a rise of 3.6 per cent over the end of
2005, the result of continuous acquisition efforts and the launch of VISA
Infinite, an invitation-only credit card for prestigious customers, and alpha
card, a debit card for young people. Boosted by the Cash Dollar Reward loyalty
scheme and joint campaigns with selected merchants, card spending rose by 9.2
per cent, compared with the same period last year.

PFS's strategy in mainland China is to focus on providing wealth management
services to the higher end segment. Initiatives in the first half of 2006
include the launch of a series of market-linked structured deposit products,
which were well received by customers. The bank's mainland business strategy is
being implemented through a growing branch and sub-branch network in major
cities in the Pearl River Delta and the Yangtze River Delta.

Commercial Banking ('CMB') achieved an encouraging rise of 21.8 per cent in
operating profit excluding loan impairment charges, driven by strong growth in
trade finance and other advances and the development of corporate wealth
management business. Taking into account the release in loan impairment
allowances, pre-tax profit reported an increase of 150.8 per cent over the first
half of 2005.

Net interest income reported strong growth of 25.3 per cent, attributable to a
9.9 per cent increase in customer advances, with strong growth of 17.8 per cent
recorded for trade finance. The widening of the BLR/HIBOR gap also enhanced the
interest spread of BLR-based lending, including mortgages, trade advances and
SME loans. The spread on current account deposits also benefited from the rise
in Hong Kong dollar interest rates. As a key initiative to expand non-fund
income, CMB established a corporate wealth management team to look after the
investment and treasury needs of commercial banking customers. Payment and cash
management also saw solid growth. These resulted in 21.2 per cent growth in net
fees and commissions and an increase of 16.7 per cent in net trading income.

CMB also continued to strengthen its relationships with middle-market
enterprises ('MME'). Later this year, the bank will become the first foreign
bank to establish a branch in Dongguan, China, putting CMB in a good position to
serve the Hong Kong and mainland financing needs of the large number of MME
customers that have business operations in this region.

To further enhance SME services, customer-focused solutions for specific
industries were developed. During the first half of 2006, two new business
banking centres were opened and the Business Partner Direct 24-hour manned
hotline service was launched.

Following further expansion of the bank's mainland network to a total of 13
outlets, CMB business on the Mainland reported strong growth of 53.2 per cent in
customer advances and expanded its trade services operations.

Corporate Banking ('CIB') reported an operating profit excluding loan impairment
charges of HK$257 million, a fall of 8.2 per cent compared with the first half
of 2005. Pre-tax profit, however, rose by 58.5 per cent to HK$271 million, with
a HK$14 million release in loan impairment allowances in the current period,
compared with a charge of HK$109 million in the same period last year.

Ample market liquidity and intense competition further drove down corporate
lending margins. In line with CIB's strategy to diversify away from low margin
lending, large corporate loans recorded a decline of 6.6 per cent for the first
half of 2006. Total operating income was on par with the same period in 2005, as
the small decline in net interest income was offset by an increase in net fee
income.

CIB has been active in financing the mainland China projects of Hong Kong-based
corporate customers and continued to expand its corporate customer base on the
Mainland.

Treasury's ('TRY') pre-tax profit was down by HK$278 million, or 35.5 per cent,
to HK$506 million. TRY made substantial efforts to grow its net trading income,
resulting in an increase of HK$246 million, or 201.6 per cent. This was achieved
by enhancing proprietary trading capabilities, expanding corporate treasury
services and further developing structured products for PFS and CMB customers.
This partially made up for the HK$511 million, or 74.5 per cent, fall in balance
sheet management and money market revenues as the portfolio yields were further
compressed by the continued rise in interest rates. With the lack of yield
enhancement opportunities under the flat yield curves environment, TRY is taking
a defensive balance sheet management position.
                                                                      
TRY expanded its operations on the Mainland using Shanghai as a hub to manage
the funding needs of all mainland branches and to structure investment products
for the mainland market.

Contents

The financial information in this news release is based on the unaudited
consolidated financial statements of Hang Seng Bank Limited ('the bank') and its
subsidiaries and associates ('the group') for the six months ended 30 June 2006.

.....Highlights of Results
.....Chairman's Comment
.....Results Summary
.....Customer Group Performance
.....Contents
.....Consolidated Income Statement
.....Consolidated Balance Sheet
.....Consolidated Statement of Changes in Equity
.....Economic Profit
.....Consolidated Cash Flow Statement
.....Financial Review
..........Net interest income
..........Net fee income
..........Net trading income
..........Net income from financial instruments designated at fair value
..........Other operating income
..........Analysis of income from wealth management businesses
..........Loan impairment charges and other credit risk provisions
..........Operating expenses
..........Profit on disposal of fixed assets and financial investments
..........Tax expenses
..........Earnings per share
..........Dividends per share
..........Segmental analysis
..........Analysis of assets and liabilities by remaining maturity
..........Cash and balances with banks and other financial institutions
..........Placings with and advances to banks and other financial institutions
..........Trading assets
..........Financial assets designated at fair value
..........Advances to customers
..........Loan impairment allowances against advances to customers
..........Impaired advances and allowances
..........Overdue advances
..........Rescheduled advances
..........Segmental analysis of advances to customers by geographical area
..........Gross advances to customers by industry sector
..........Financial investments
..........Amounts due from/to immediate holding company and fellow subsidiary companies
..........Investments in associates
..........Intangible assets
..........Other assets
..........Current, savings and other deposit accounts
..........Certificates of deposit and other debt securities in issue
..........Trading liabilities
..........Other liabilities
..........Subordinated liabilities
..........Shareholders' funds
..........Capital resources management
..........Liquidity ratio
..........Reconciliation of cash flow statement
..........Contingent liabilities, commitments and derivatives
..........Cross-border claims
..........Accounting policies
..........Statement of compliance
..........Statutory accounts
..........Comparative figures
..........Property revaluation
..........Market risk
..........Foreign currency positions
..........Ultimate holding company
..........Register of shareholders
..........Proposed timetable for the remaining 2006 quarterly dividends
..........News release








                      This information is provided by RNS
            The company news service from the London Stock Exchange