HSBC to exit US retail banking amid sale talks

Mark Battersby
clock • 1 min read

London-headquartered HSBC is to exit its US retail and small business banking market in a strategic move to focus more heavily on its main corporate and investment banking presence across Asia. The bank said in a statement towards the end of Wednesday 26 May it would exit retail banking for most individual and small business customers but retain a small physical presence in the US to serve its international affluent and very wealthy clients. Ninety of its 148 US branches are to be sold with HSBC talking to Citizens Bank and Cathay General Bancorp among others about a deal which will b...

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