The HSBC headquarters in Hong Kong. The bank took a US$500 million charge for potential soured loans in its Chinese commercial real estate portfolio for the fourth quarter of 2021. Photo: Sam Tsang
HSBC, Standard Chartered, Hang Seng Bank and BEA set aside a combined US$1.02 billion to cover for Chinese property sector risks
- Time will tell as to whether that sector has more losses coming or not, says HSBC CEO
- While profitability at larger lenders HSBC and Standard Chartered was not hurt by the provisions, it declined 16 per cent at Hong Kong and China-focused Hang Seng Bank
The HSBC headquarters in Hong Kong. The bank took a US$500 million charge for potential soured loans in its Chinese commercial real estate portfolio for the fourth quarter of 2021. Photo: Sam Tsang
