In Canada HSBC Retail Services to sell Private Label Credit Card Portfolio

In Canada HSBC Retail Services to sell Private Label Credit Card Portfolio 
VANCOUVER, March 18, 2013 /CNW/ - HSBC Retail Services Limited ('HSBC 
Retail'), an indirect wholly-owned subsidiary of HSBC Holdings plc, has 
entered into an agreement to sell its consumer Private Label Credit Card 
Portfolio to TD Financing Services Inc., a wholly-owned subsidiary of The 
Toronto-Dominion Bank. The gross value of the portfolio was approximately 
C$495m at 28 February 2013. 
This agreement accelerates the wind down of the Canadian consumer finance 
business originally announced by HSBC Retail's parent company HSBC Financial 
Corporation Limited on 21 March 2012. This is a continuation of HSBC's 
strategy in Canada to focus on the core businesses of Commercial Banking, 
Global Banking and Markets, and Retail Banking and Wealth Management, 
supporting its aim to be the world's leading international bank. 
The sale, which is subject to regulatory approval, is expected to be completed 
in the third quarter of 2013. 
Notes to editors:
HSBC Retail Services Limited is a wholly-owned subsidiary of HSBC Financial 
Corporation Limited which is a subsidiary of HSBC Bank Canada. HSBC Bank 
Canada, a subsidiary of HSBC Holdings plc, is the leading international bank 
in Canada. 
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in 
London. The Group serves customers worldwide from around 6,600 offices in 81 
countries and territories in Europe, the Asia-Pacific region, North and Latin 
America, and the Middle East and North Africa. With assets of US$2,693bn at 31 
December 2012, the HSBC Group is one of the world's largest banking and 
financial services organisations. 
Media enquiries to:  United Kingdom  Patrick Humphris +44 (0)20 7992 1631 
patrick.humphris@hsbc.com  Canada  Ernest Yee +1 (604) 641 2973 
ernest_yee@hsbc.ca  Sharon Wilks +1 (416) 868 3878 sharon_wilks@hsbc.ca  
Investor enquiries to:  London  Guy Lewis +44 (0)20 7992 1938 
guylewis@hsbc.com  Robert Quinlan +44 (0)20 7991 3643 robert.quinlan@hsbc.com  
Hong Kong  Hugh Pye +852 2822 4908 hugh.pye@hsbc.com   
SOURCE: HSBC Bank Canada 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/March2013/18/c5855.html 
CO: HSBC Bank Canada
ST: British Columbia
NI: FIN MNA  
-0- Mar/18/2013 17:00 GMT
 
 
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