HSBC CFO Georges Elhedery Says Co Is Reviewing A Possible Exit From As Many As A Dozen Countries, Or 1/5 Of The Markets It Operates In, To Sharpen Its Focus On Asian Expansion
Portfolio Pulse from Happy Mohamed
HSBC CFO Georges Elhedery revealed in a Reuters interview that the bank is considering exiting up to 12 countries, or 20% of the markets it operates in, to focus on Asian expansion.
May 24, 2023 | 2:43 pm
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HSBC may exit up to 12 countries to focus on Asian expansion, potentially impacting its revenue and asset distribution.
HSBC's potential exit from up to 12 countries could lead to a short-term neutral impact on its stock price, as the bank reallocates resources to focus on Asian expansion. This move may result in changes to its revenue and asset distribution, but the long-term effects are uncertain.
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IMPORTANCE 75
RELEVANCE 100