Deals
HSBC to Sell Korean Branches on Restructuring, MoneyToday Says
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HSBC Holdings Plc plans to sell its retail banking operations in South Korea as part of the company’s worldwide restructuring, MoneyToday reported, citing people it didn’t identify.
The London-based lender aims to sell its entire 11 branches in South Korea, leaving only investment and corporate banking businesses in Asia’s fourth-biggest economy, the Korean-language internet newswire reported today, without saying how much the assets may be worth. Jessica Lennon, a spokeswoman for HSBC in Hong Kong, declined to comment on the report by phone.