(Bloomberg) -- HSBC Holdings Plc stopped providing mortgages to buyers of China Evergrande Group’s unfinished residential properties in Hong Kong, according to people familiar with the matter.

The suspension on new mortgages covers two Evergrande projects under construction in the financial hub, the people said, asking not to be named as the matter is private. It was unclear what triggered the decision by Hong Kong’s biggest bank or whether other lenders made similar moves.

“It’s believed that other banks could follow suit after a leading bank refused to process mortgage applications for the developer’s unfinished units,” Eric Tso, chief vice president at mReferral Corporation (HK) Ltd., a mortgage referral company, said in a statement on Evergrande Wednesday that didn’t name the bank.

An HSBC spokeswoman didn’t immediately comment. A representative for Evergrande didn’t immediately respond to requests for comment.

The world’s most indebted developer has come under intense scrutiny in recent weeks after fears of a cash crunch triggered a selloff in its bonds and shares. Evergrande is raising cash through asset sales, spinoffs and discounted property sales, but doubts about its financial strength have persisted.

The developer has two projects in Hong Kong that are still under construction. The Vertex in Cheung Sha Wan area, which has more than half of the 414 units sold, is slated to finish by the end of October. Emerald Bay II is due to finish at the end of next month and has sold 97% of its homes, according to mReferral.

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