HSBC Continental Europe will give in to the commercial credit of France and to Rothesay “its French portfolio of predominantly real estate loans and certain other loans kept following the sale of its retail banking activities in France” in early 2024.
HSBC Continental Europe has signed a memorandum of understanding with the French commercial credit (CCF) and the British Rothesay retirement insurance specialist to sell his loan portfolio in France, the three groups involved announced on Friday.
According to the press release from HSBC Continental Europe, the indirect subsidiary of the British banking group HSBC dedicated to activities on the old continent, based in Paris, will give in to the CCF and Rothesay “its French mainly immovable loans portfolio and certain other loans kept following the sale of its retail banking activities in France” in early 2024.
By taking over this network, the French group My Money Group (MMG), controlled by the American fund Cerberus, had revived the CCF brand to bring together the old HSBC France agencies.
“The portfolio, made up of real estate credits granted to CCF customers, represents an outstanding total of 6.7 billion euros,” said the CCF group in a separate press release.
It is mainly made up of “guaranteed real estate loans at fixed rate over 25 years for residential properties in France”, underlines Rothesay in its press release.
HSBC Continental Europe declares in its press release that the finalization of this operation is expected in the fourth quarter of 2025, “subject to the appropriate processes of information and consultations of respective corporate social committees”.
The subsidiary for continental Europe of the British group also specifies that the depreciation of this portfolio since the beginning of the year has already weighed on the accounts of its parent company.
The measured impact is a loss of 0.2 point of the HSBC group (CE1) of the HSBC group – a key indicator measuring the financial solidity of a bank and its ability to overcome a possible crisis – which established at 14.7% on March 31, 2025.
According to the British bank, the realization of the transaction should not lead to an additional significant impact on this ratio.
For its part, CCF declares that the operation will be “completely transparent” for the customers concerned, already followed in its network and that it “is part of a logic of controlled external growth”.
