HSBC (HSBC) is exiting its business banking portfolio in the U.S., as it continues to simplify its operations and shift its focus to Asia and Middle East markets, Jaiveer Shekhawat and Saeed Azhar of Reuters reports. “Following a strategic review of our business, we have decided to exit our Business Banking portfolio in the United States,” it said in a statement, according to Reuters.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HSBC:
- HSBC disbands smaller business banking division, WSJ reports
- NowVertical secures up to $26M financing with HSBC
- HSBC cut over two dozen analysts in investment banking overhaul, Bloomberg says
- HSBC ties bonuses of UK retail staff to RTO mandate, Bloomberg reports
- ‘Time to Exit,’ as Another Analyst Loses Faith in UnitedHealth Stock (UNH)