HSBC Holdings said it plans to increase the amount of funding it makes available for mortgages by 20 per cent to €17.3 billion next year, the Wall Street Journal reported.

The bank hopes the move will increase its share of the mortgage market to five per cent from four per cent, an HSBC spokesman told the paper. Many banks have reined in lending to homeowners amid the economic downturn and a sharp decline in property prices.

HSBC, which is Europe's biggest bank, will not relax its lending standards, the paper said.

The company could not be immediately reached for comment.

HSBC Holdings international network comprises over 10,000 properties in 83 countries and territories in Europe, Hong Kong, the rest of Asia-Pacific, including the Middle East and Africa, North America and Latin America.

HSBC Holdings together with its subsidiaries (HSBC) provides a range of financial services to more than 128 million customers. HSBC manages its business through two customer groups: personal financial services and commercial banking, and two global businesses: global banking and markets, and private banking.

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