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HSBC Exclusive: Sudden Sale of Wealth and Retail Units Explained

HSBC, Europe’s largest bank, has announced its plans to sell its wealth offerings, retail banking, and business banking businesses in Mauritius.

The HSBC headquarters in London. PHOTO: CHRIS RATCLIFFE/Bloomberg News
The HSBC headquarters in London.  PHOTO: CHRIS RATCLIFFE/Bloomberg News

The buyer of these units is Absa Group Ltd., a move that aligns with HSBC’s strategy to offload its international divisions.

The transaction includes the transfer of both assets and liabilities associated with approximately

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