HSBC Holdings PLC is planning to conduct a strategic review of its French retail operations, according to French banking unions.
In a joint letter, six unions said they had been contacted by the management of HSBC France SA to inform them of the review. One of the possible options is a full or partial sale of HSBC's retail business in France, the unions said.
They also said no final decision on a potential sale had been taken.
HSBC has about 300 branches and 800,000 customers in France following its acquisition of Crédit Commercial de France almost 20 years ago. It holds a 2% market share in lending and retail deposits.
