Deals
HSBC in Talks With Beirut’s Blom to Sell Lebanese Business
- CEO unveiled strategy last year to reduce bank’s operations
- HSBC employs 200 people in Lebanon with three branches
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HSBC Holdings Plc, the London-based lender scaling back its global presence, has discussed plans to sell its Lebanese business with Beirut-based Blom Bank SAL.
No binding agreement has been reached and there is no certainty it will be, HSBC said in an e-mailed statement on Monday. In a separate statement, Blom Bank confirmed it has held talks with HSBC. No further details were provided by the banks.