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By P.R. Venkat HSBC Holdings is selling its Argentina business for over half a billion dollars, the bank s latest exit from markets that are no longer core to its business strategy. The.
By P.R. Venkat HSBC Holdings has agreed to sell its Argentina business to the country s largest private financial group for $550.0 million as it looks to spend resources on higher-value.
HSBC's subsidiary, HSBC Latin America B.V., sells Argentina business to Grupo Financiero Galicia for $550 million, focusing on higher value opportunities.
HSBC says it first quarter results will be hit by a $1billion (£790.1million) pre-tax loss following the £434.6million sale of its Argentinian bank to Grupo Financiero Galicia.