'HSBC Said To Explore Sale Of Some German Units In Streamlining' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
HSBC Holdings Plc is considering the sale of its wealth-management, custody, and fund administration units in Germany as part of its strategy to focus more on its core Asian operations. The review is in its early stages, and there's no guarantee of a sale. This move aligns with HSBC's recent trend of exiting non-core businesses and markets, including North America and French retail operations. The bank's German fund administration business, Inka, manages approximately €400 billion in assets. HSBC's German private banking activities generated about $90 million in revenue in 2023.
April 02, 2024 | 3:23 pm
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HSBC is exploring the sale of its German wealth-management, custody, and fund administration units to concentrate on its core operations in Asia. The bank's German fund administration business, Inka, has €400 billion in assets, and its private banking activities in Germany generated $90 million in revenue in 2023.
The potential sale of HSBC's German units could be viewed positively by investors as it aligns with the bank's strategy to focus on its core Asian operations, which could lead to more efficient capital allocation and potentially better financial performance in the long term. However, the impact is considered with moderate confidence due to the early stage of discussions and the uncertainty surrounding the sale.
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