HSBC reviews retail banking outside UK and Hong Kong, FT reports

Quick Summary:

HSBC is reviewing its retail banking operations outside the UK and Hong Kong, which could see it substantially scale back operations in other countries, including Mexico, the Financial Times reported on Thursday, citing people familiar with the discussions.

FILE PHOTO: HSBC logo is seen in this illustration taken December 22, 2023.

The bank is looking outside its core markets to reduce consumer presence and focus on wealthier "premier" customers, the report said.

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Article Details

Category: EconomyBusiness

Markets: SingaporeHong KongIndonesiaMalaysiaMexico

Topics: Premier Mexico Bank Reviewing Banking Presence Wealth Retail Countries Hsbc Operations

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-13 @ 02:27:08 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 252 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 24383964

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