HSBC subsidiary HSBC Continental Europe (HBCE) has completed the sale of its retail banking business in France to Crédit Commercial de France, a subsidiary of My Money Group, the British lender said on Monday, reports Reuters.
"All necessary regulatory approvals were obtained and the transaction completed on 1 January," HSBC said.
My Money Group on Sunday said it would have total assets surpassing 30 billion euros ($33.11 billion) and a solvency position with a CET1 ratio exceeding 15 per cent at close.
"Further reinforcing its financial strength is a substantial liquidity position of around 10 billion euros in cash," My Money Group said.
HSBC completes sale of retail banking business in France
FE Team | Published: January 02, 2024 22:09:52
HSBC completes sale of retail banking business in France
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