HSBC is pulling back from riskier private credit lending, becoming the latest bank to rein in exposure to the sector after a string of high-profile bankruptcies raised concerns over underwriting standards, the Financial Times reported on Tuesday.
The bank has told some clients it will not renew their lending facilities after deciding to stop lending to private credit funds that did not offer sufficient returns to justify the risk, the report, citing three people familiar with the matter, said.
