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Report: BLOM Bank among potential buyers as HSBC shops Lebanese biz

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Report: BLOM Bank among potential buyers as HSBC shops Lebanese biz

HSBC HoldingsPlc intends to sell its Lebanese unit, which comprises a corporatebanking business, three retail branches and about 200 employees, "peoplewith knowledge of the matter" told Bloomberg News.

The sources said local lenders have expressed interest inthe unit, and HSBC is negotiating with several parties including .

In June 2015, HSBC CEO Stuart Gulliver plans to close money-losingbusinesses and cut up to 25,000 jobs as part of a larger strategy to reduce thebank's global network. Data from HSBC's website showed that thebank operated in 71 countries as of 2015-end, compared to 87 countries in 2011,Bloomberg noted in the report, which was updated April 28.