HSBC eyes selling retail bank business in France: Sorces
HSBC bank is looking to sell part or all of its retail banking business in France, which employs thousands of people, sources close to the negotiations said on Monday.
A source confirmed details reported in French financial newspaper Les Echos that discussions will start with French and foreign banks who have shown interest in the deal.
HSBC has more than 8,500 employees in France, many of whom work in the retail business.
The London-based, Asiafocused behemoth has been trying to lower costs as it faces uncertainties caused by the grinding US-China trade war and Britain’s impending departure from the European Union. HSBC did not confirm the report.