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HSBC Loan Loss Rise Is Said Tied to Steinhoff, Carillion

  • Bank’s bad loans were $188 million higher on two companies
  • Impairments would have dropped in quarter without exposures
Updated on

HSBC Holdings Plc is the latest global bank to take hits from the fallout of Steinhoff International Holdings NV and Carillion Plc, a person familiar with the matter said.

Europe’s largest bank said loan-impairment charges were about $188 million higher in the fourth quarter than a year earlier, “largely driven by two individual corporate exposures in Europe,” according to a filing Tuesday.