Company: HBCYF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0001089113-25-000046
Chunk: 38

Company: HSBC HOLDINGS PLC
Filing Date: 2025-04-29
Form: 6-K
Chunk 38
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 decreases in our Hong Kong business (down $1.6bn) and Corporate Centre (down $7.2bn). The increase in CIB was driven by higher lending in our legal entities in Asia (up $3.7bn), HSBC Bank plc (up $1.5bn), the Middle East (up $0.8bn) and the US (up $0.6bn). The increase in IWPB was primarily driven by growth in our main legal entity in Hong Kong (up $1.4bn). In our UK business segment, the increase was primarily driven by mortgage growth. The decrease in our Hong Kong business segment was primarily driven by lower exposures across different products, including mortgages and cards. The decrease in Corporate Centre was driven by the reclassification of a retained portfolio of home and other loans following the disposal of our retail banking operations in France to debt instruments measured at fair value through other comprehensive income (‘FVOCI’), as a result of a change in the IFRS 9 measurement category of the portfolio. At 31 March 2025 , the allowance for ECL of $10.7bn comprised $ 10.2 bn in respect of assets held at amortised cost, $ 0.4 bn in respect of loan commitments and financial guarantees, and $ 0.1 bn in respect of debt instruments measured at FVOCI. On a constant currency basis, the allowance for ECL in relation to loans and advances to customers increased by $0.3bn. This was attributable to: – a $0.1bn increase in stages 1 and 2; and – a $0.2bn increase in stage 3. The ECL charge for the first three months of 20 25 was $ 0.9 bn (1Q24: $0.7bn), inclusive of recoveries. The ECL charge included the impact of a deterioration in the forward economic outlook. It comprised: $0.3bn in respect of the Hong Kong business segment; $0.2bn in respect of the UK business segment; $0.2bn in respect of CIB; and $0.2bn in respect of IWPB. At 31 March 2025, the shift in weightings to reflect the uncertainty of the forward economic outlook resulted in an ECL charge of $150m. For further details on ECL charges in each of our business segments, see pages 17 and 39 . ECL charges in