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RTNominal up40.650 +0.350 (+0.868%)

21/06/2021 09:31

HSBC (00005) may sell retail banking business in France

[ET Net News Agency, 21 June 2021] HSBC Holdings plc (00005) said HSBC Continental
Europe (HBCE) has signed a Memorandum of Understanding (MOU) regarding the potential sale
of HBCE's retail banking business in France.
The potential sale includes HBCE's French retail banking business; the Credit Commercial
de France brand; and, subject to the satisfaction of relevant conditions, HBCE's 100%
ownership interest in HSBC SFH (France) and its 3% ownership interest in Credit Logement.
The business consists of a network of 244 retail branches, serving 800,000 customers at
31 December 2020. (RC)

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