Core member of the HSBC group. Strong funding and liquidity profiles a relative strength. Good U.K. franchise. Good business diversity. Loan impairments, while trending lower, are likely to remain elevated. Business profile considered a little less strong than major U.K. peers. The ratings on U.K.-incorporated HSBC Bank PLC (HSBC Bank) reflect Standard&Poor's Rating Services' view of its position covering the European operations within HSBC Holdings PLC (the group; AA-/Stable/A-1+), its own strong business profile, and our consideration that its financial profile is above average compared with major U.K. peers, benefiting in particular from its very strong funding and liquidity profiles. HSBC Bank is a wholly owned, direct subsidiary of the group, the ultimate holding company. HSBC Bank comfortably
