Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 304

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 304
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 was a decrease in the associated allowance for ECL due to write-offs of heavily-impaired exposures. At 31 December 2024, the write-offs attributable to wholesale lending increased by $0.3bn to $2.9bn, compared with 31 December 2023. The allowance for ECL attributable to loans and advances to banks and customers of $7.2bn at 31 December 2024 decreased by $1.0bn from $8.2bn at 31 December 2023. This included adverse foreign exchange movements of $0.2bn. On a constant currency basis, the allowance for ECL attributable to corporate and commercial loans and advances decreased by $0.8bn, largely due to the write-offs of heavily-impaired exposures in ‘real estate and construction’, mainly in Hong Kong. The allowance for ECL attributable to loans and advances to non-bank financial institutions remained broadly stable. On a reported basis, loan commitments and financial guarantees of $381.7bn decreased by $38.2bn compared with 31 December 2023. Excluding adverse foreign exchange movements of $14.0bn, financial nominal amounts decreased by $14.8bn, and corporate and commercial nominal amounts decreased by $9.4bn. The allowance for ECL attributable to loan commitments and financial guarantees at 31 December 2024 remained unchanged at $0.4bn. The table below provides a breakdown by industry sector and stage of the Group’s gross carrying amount and allowances for ECL for wholesale loans and advances to banks and customers. Counterparties or exposures are classified when presenting comparable economic characteristics, or engaged in similar activities so that their collective ability to meet contractual obligations is uniformly affected by changes in economic, political or other conditions. Therefore, the industry classification does not adhere to Nomenclature des Activités Économiques dans la Communauté Européenne (‘NACE’), which is applicable to other financial regulatory reporting.

| HSBC Holdings plcAnnual Report on Form 20-F | 201 |

| Total wholesale lending for loans and advances to banks and customers by stage distribution |                       |         |         |      |         |                   |         |         |      |        |
|                                                                                             | Gross carrying amount |         |         |      |         | Allowance for ECL |         |         |      |        |
|                                                                                             |               Stage 1 | Stage 2 | Stage 3 | POCI |   Total |           Stage 1 | Stage