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HSBC HOLDINGS CEO: Bank's CRE Risk Exposure of Particular Concern Less Than 5%
Recommend 24 Positive 22 Negative 22 |
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HSBC HOLDINGS (00005.HK) logged a sharp YoY increase in expected credit losses (ECL) in 1H25. CEO Georges Elhedery stated at the earnings conference that as the government takes additional initiatives to limit office land supply, these initiatives will support Hong Kong's commercial real estate (CRE) in the medium to long term; however, in the short term, Hong Kong's CRE will hit snags due to oversupply. Within HSBC's CRE exposure, the risk exposure of particular concern accounted for less than 5%, Elhedery mentioned. This portion of exposure belonged to substandard or credit-impaired borrowers, whose loan-to-value (LTV) ratio exceeded 70%. This segment's risk exposure was less than USD1.5 billion, and the bank already provisioned approximately USD500 million for ECL. AASTOCKS Financial News Website: www.aastocks.com |
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