HSBC says it is in talks to sell off operations in Pakistan and Korea as it continues with plans to scale back in territories which are not deemed profitable or have become underperforming retail operations.
HSBC - which calls itself the world's local bank - has issued a statement confirming that discussions have commenced on the possible sale of its retail banking and wealth management business in Korea. The Korea Development Bank, part of the KDB Financial Group, is the interested buyer. HSBC says it will make a further announcement as and when it would be appropriate but emphasised that the discussions were “ongoing” which may lead to a sale. HSBC further confirmed its commitment to the Korean market saying it continues to invest in developing its Korean global banking and markets and cor...
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