Abc
25 January 2012
HSBC TO SELL RETAIL BANKING AND WEALTH MANAGEMENT BUSINESS IN THAILAND
The Hongkong and Shanghai Banking Corporation Limited, an
indirect wholly owned subsidiary of HSBC Holdings plc, has
entered into an agreement to sell its Retail Banking and
Wealth Management business in Thailand to Bank of Ayudhya
Public Company Limited ("BAY").
The value of the gross assets being sold was approximately
THB17.5bn
(approximately US$553m) at 31 December 2011.
The transaction, which is subject to various conditions,
including regulatory approvals and approval by the
shareholders of BAY, is expected to complete during the first
half of 2012 and represents further progress in the execution
of HSBC's strategy outlined
at the Investor Day in May 2011.
ends/more
Media enquiries to:Brendan McNamara | +44 (0)20 7991 0655 | brendan.mcnamara@hsbc.com |
Margrit Chang | +852 6822 7203 | margritchang@hsbc.com.hk |
Laine Santana | +852 6792 8255 | lainesantana@hsbc.com |
London | ||
Alastair Brown | +44 (0)20 7992 1938 | alastair.brown@hsbc.com |
Robert Quinlan | +44 (0)20 7991 3643 | robert.quinlan@hsbc.com |
Hong Kong | ||
Hugh Pye | +852 2822 4908 | hugh.pye@hsbc.com |
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in over 80 countries and territories in Europe,
the Asia-Pacific region, North and Latin America, and the Middle East and Africa. With assets of
US$2,716bn at 30 September 2011, HSBC is one of the world's largest banking and financial services organisations.
ends/all
This news release is issued by
HSBC Holdings plc
Registered Office and Group Management Office:
8 Canada Square, London E14 5HQ, United Kingdom
Web: www.hsbc.com
Incorporated in England with limited liability. Registered number 617987
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Documents associés | |
HSBC to sell retail banking and wealth management business in Thailand (1 page pdf 26k) |