HSBC, one of the world’s largest banks, has reported a positive start to 2024 with the successful completion of the sale of its French retail banking business, Crédit Commercial de France (CCF), to My Money Group.
This deal, which was initially announced in 2021, saw Cerberus-backed My Money invest €225 million into the business. As part of the agreement, HSBC retained a €7 billion loan portfolio.
The sale of CCF represents an important milestone in HSBC’s strategic vision for Europe. HSBC’s CEO, Noel Quinn, expressed his delight with this positive start to the year and emphasized the
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