City Of London
HSBC Is in Talks to Sell Russian Unit to Expobank, Sources Say
- UK firm would follow other international banks exiting Russia
- HSBC has said it wasn’t accepting new customers at the unit
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HSBC Holdings Plc is in talks to sell its Russia unit to local lender Expobank, according to two people with knowledge of the discussions.
The talks on a deal are at an advanced stage, said the people, who asked not to be identified because the information isn’t public and no agreement is assured. Spokespeople for HSBC and Expobank declined to comment.