Company: HBCYF
Filing Date: 2025-10-28
Form Type: 6-K
Source: 0001654954-25-012267
Chunk: 27

Company: HSBC HOLDINGS PLC
Filing Date: 2025-10-28
Form: 6-K
Chunk 27
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 gain on disposal of $0.1bn, which will be recognised on completion.

On 20 December 2024, HSBC Continental Europe signed a memorandum of understanding for the planned sale of its French life insurance business, HSBC Assurances Vie (France), to Matmut Société d'Assurance Mutuelle. The Share Sale Agreement for the transaction was signed on 21 March 2025 following completion of all relevant employee information and consultation processes. The transaction, which has received regulatory approvals, is expected to complete in the fourth quarter of 2025. The disposal group met held for sale criteria in the fourth quarter of 2024, with balances remaining classified as held for sale at 30 September 2025 of $28.2bn in assets and $27.2bn in liabilities. The transaction is estimated to generate a pre-tax loss of $0.2bn inclusive of migration costs and the recycling of related reserves. The transaction is structured on the basis of a price fixed on the reference date of 30 June 2024. Between this date and completion the loss on disposal will be adjusted for changes in the net asset value, including the entity's earnings, which will continue to be consolidated into the Group's results until disposal.

On 25 September 2024, HSBC reached an agreement to transfer its business in South Africa to local lender FirstRand Bank Ltd. The disposal group met held for sale criteria in the fourth quarter of 2024, with balances remaining classified as held for sale at 30 September 2025 of $0.7bn in assets and $2.1bn in liabilities. The transaction, which has received regulatory and governmental approvals, is expected to complete in the first quarter of 2026. Upon subsequent wind-down of the entity, expected in 2026, cumulative foreign currency translation reserves and other reserves will recycle to the income statement. At 30 September 2025, foreign currency translation reserve and other reserve losses stood at $0.2bn.

Events after the balance sheet date

On 3 October 2025, HSBC Continental Europe completed the sale of its private banking business in Germany to BNP Paribas. At 30 September 2025, the balances classified as held for sale were $1.5bn in assets and $1.5bn in liabilities. In the fourth quarter of 2025, we will recognise an estimated pre-tax gain on disposal of $0.1bn.

On 9 October 2025, the Group announced