trending Market Intelligence /marketintelligence/en/news-insights/trending/4j0K97YbO4LPEpzB9x4NWA2 content esgSubNav
In This List

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

Blog

Banking Essentials Newsletter: January 11th Edition

Blog

Banking Essentials Newsletter December 21st Edition

Blog

The Road to Basel IV: Navigating the challenge facing European banks

Blog

Basel Framework- Utilizing data to analyze the capital position of European banks.


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.