HSBC has increased its provisions for bad loans and predicted lending will be muted this year, citing uncertainty, market turmoil and a deteriorating economic outlook from higher tariffs and geopolitical tensions.
The UK-based bank raised its expected credit losses by $202mn to $876mn in the first quarter of 2025, slightly higher than analysts’ estimates. The year-on-year increase included $100mn specifically for its exposure to Hong Kong’s commercial property sector.
“Given current levels of uncertainty and market turmoil”, the bank expects global demand for lending to “remain muted during 2025”.
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