Global bank HSBC commits US$1.5 billion to Singapore startup-lending unit

HSBC has expanded its innovation - banking division in Singapore, pledging to allocate about US$1.5 billion to support startups and scale-ups as part of its global shift toward technology and innovation lending. The group’s commercial-bank innovation business, established in 2023, now operates in multiple regions including the U.S., U.K., India and Asia. HSBC said it aims to back cash-burning businesses with credit policies tailored to their needs in sectors like technology and healthcare, reflecting banks’ efforts to deepen ties with the venture-capital ecosystem and diversify revenue streams.