Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 173

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 173
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 constant currency basis, loans and advances to customers increased by $14bn , reflecting the following movements. In WPB, customer lending increased by $2bn , reflecting growth in mortgage balances, including in our main legal entities in the UK (up $5bn) and the US (up $3bn). There was also growth in lending in Private Banking (up $3bn) and in unsecured lending (up $1bn). These increases were partly offset by a $7.4bn (€7.1bn) transfer to Corporate Centre of a portfolio of home and certain other loans retained following the sale of our retail banking operations in France. In CMB, customer lending was $6bn higher, reflecting increases in our legal entities in mainland China (up $2bn), India (up $2bn), and Mexico (up $1bn). There were also increases in HSBC UK (up $2bn) and HSBC Bank plc (up $1bn) from higher revolving credit facility balances and term lending. These increases were partly offset by a reduction in lending balances in our main legal entity in Hong Kong (down $3bn) due to lower market wide loan demand and competitive pricing. In GBM, customer lending balances were broadly stable. There was a decrease in lending balances in our main legal entity in Hong Kong (down $6bn) due to muted client demand. The reduction was broadly offset by growth in our legal entity in Singapore (up $3bn) reflecting higher overdraft balances, and in our main legal entity in Australia (up $2bn) from higher term lending balances. In Corporate Centre, the increase in customer balances of $7bn reflected the transfer of balances from WPB, mentioned above. Financial investments increased by $50bn or 11% , mainly in our main legal entities in Hong Kong and Singapore as well as in HSBC UK and HSBC Bank plc from the purchase of debt securities, treasury and other eligible bills, as we redeployed our commercial surplus to benefit from higher yield curves and enhance our hedging activities on net interest income. The increase was across both debt instruments held at fair value through other comprehensive income and instruments held at amortised cost. Assets held for sale decreased by $87bn or 76% following the completion of the sales of our retail banking operations in France and our banking operations in Canada in 2024. Other assets decreased by $18bn or 7% primarily reflecting a reduction in settlement accounts balances, including in HSBC Bank plc