HSBC plans sale of French retail banking business

epa07543895 (FILE) - A Hongkong Shanghai Banking Corporation (HSBC) bank logo at a branch in London, England, 25 March 2009, reissued 03 May 2019. HSBC reported on 03 May 2019 a profit after tax up 31 percent to 4.9 biliion US dollars or 4.39 billion euros for the first quarter of 2019 up from the first quarter of 2018. EPA-EFE/ANDY RAIN

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HSBC   is planning to exit its French retail banking business under interim chief executive Noel Quinn, the Wall Street Journal reported, citing people familiar with the matter.

The likeliest buyer for the unit would be a French bank looking to add market share, the WSJ reported, adding that the likely price for the business was not clear.

British bank HSBC would continue to offer wholesale banking operations in France, the WSJ added.

 

Via Reuters/WSJ

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