Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 312

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 312
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 $1.1bn), in our entities in Asia (up $1.0bn) and in Mexico (up $0.3bn). This was partly offset by the sale of our business in Argentina (down $0.3bn). Total personal lending gross carrying amounts in stage 2 decreased by $7.6bn compared with 31 December 2023. Excluding adverse foreign exchange movements of $1.1bn, the decrease of $6.5bn was driven by a reduction in credit judgements, primarily in the UK. At 31 December 2024, the write-offs attributable to personal lending increased by $0.2bn to $1.5bn, compared with 31 December 2023. At 31 December 2024, the allowance for ECL attributable to personal lending, excluding off-balance sheet loan commitments and guarantees, decreased by $0.3bn to $ 2.5 bn, compared with 31 December 2023. This decrease included favourable foreign exchange movements of $0.2bn. On a constant currency basis, the allowance for ECL attributable to other personal lending of $ 2.1 bn decreased by $0.1bn compared with 31 December 2023. This net release was driven by resilient performance and a reduction in credit judgements in the UK. The allowance for ECL attributable to mortgages of $0.5bn remained unchanged compared with 31 December 2023. The quality of both our Hong Kong and UK mortgage books remained strong, with low levels of impairment allowances. The average LTV ratio on new mortgage lending in Hong Kong was 67%, compared with an estimated 63% for the overall mortgage portfolio. The average LTV ratio on new lending in the UK was 69%, compared with an estimated 53% for the overall mortgage portfolio.

| Total personal lending for loans and advances to customers at amortised cost by stage distribution |                       |         |         |         |                   |         |         |        |
|                                                                                                    | Gross carrying amount |         |         |         | Allowance for ECL |         |         |        |
|                                                                                                    |               Stage 1 | Stage 2 | Stage 3 |   Total |           Stage 1 | Stage 2 | Stage 3 |  Total |
|                                                                                                    |                    $m |      $m |      $m |      $m |                $m |      $m |      $m |     $m |
| By portfolio