12:53 PM EDT, 10/29/2025 (MT Newswires) -- HSBC ( HSBC ) is expanding its innovation banking business to Singapore, allocating $1.5 billion for startup lending as part of a global push, Reuters reported Wednesday, citing the bank.

The expansion is part of HSBC's ( HSBC ) broader effort to grow lending to early-stage firms in sectors such as technology and healthcare, Dave Sabow, the bank's global head of innovation banking, reportedly said.

The bank aims to support companies raising capital or planning initial public offerings by providing a stable platform to manage their funds.

HSBC ( HSBC ) said the innovation banking unit grew its active clients by nearly 60% in the first half of this year, while deposits rose about 50% and loan commitments roughly 25%, according to the report.

HSBC ( HSBC ) did not immediately respond to MT Newswires' request for comment.

Shares of HSBC ( HSBC ) were up 1.5% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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