Company: HBCYF
Filing Date: 2025-10-28
Form Type: 6-K
Source: 0001089113-25-000056
Chunk: 28

Company: HSBC HOLDINGS PLC
Filing Date: 2025-10-28
Form: 6-K
Chunk 28
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5, HSBC Latin America Holdings (UK) Limited entered into a binding agreement to sell HSBC Bank (Uruguay) S.A. to a subsidiary of BTG Pactual Holding SA. The disposal group met the held for sale criteria, with balances classified as held for sale at 30 September 2025 of $2.1bn in assets and $1.9bn in liabilities and the recognition of an immaterial loss on disposal. The transaction, which is subject to regulatory approvals, is expected to complete in the second half of 2026. On 11 July 2025, HSBC Continental Europe, a wholly-owned subsidiary of HSBC Bank plc, reached an agreement to sell its fund administration business, Internationale Kapitalanlagegesellschaft mbH, to BlackFin Capital Partners S.A.S. The disposal group met the held for sale criteria, with immaterial balances classified as held for sale at 30 September 2025 in assets and liabilities. In August 2025, we obtained the necessary Competition Act approval. Completion of the potential sale is subject to customary regulatory approval and the conclusion of negotiations with the German works council, and is expected to complete in the second half of 2026, at which point an immaterial gain on disposal will be recognised. On 3 July 2025, HSBC Bank plc, a wholly-owned subsidiary of HSBC Holdings plc, entered into a binding agreement to sell its UK life insurance entity, HSBC Life (UK) Limited, to Chesnara plc. The disposal group met the held for sale criteria, with balances classified as held for sale at 30 September 2025 of $6.3bn in assets and $6.1bn in liabilities and the recognition of a loss on disposal of $0.1bn. The transaction, which is subject to regulatory approval, is expected to complete in early 2026. Upon completion, foreign currency translation reserve losses, which stood at $0.2bn at 30 September 2025, will recycle to the income statement. On 27 June 2025, HSBC Continental Europe reached an agreement to sell its custody business in Germany to BNP Paribas, subject to customary regulatory and anti-trust approvals and the conclusion of negotiations with the works council in Germany. Following these, it is anticipated that the sale will be completed in a phased manner, starting in the first quarter of 2026. While client consent and related operational requirements may extend the timing for completion of all client transfers,