British Banking Giant HSBC Plans To Sell Its Retail Banking Business in the United States
World’s one of the biggest banks, HSBC has decided to close its retail banking business in the United States. They announced that they have made the move to center their efforts on the management of wealth. Their nearly 80 East Coast branches will be sold to Citizens Bank. And 10 more branches on West Cost will be sold to Cathay Bank. The deposits and the bank accounts of the customers will be transferred to the new banks. HSBC plans to convert 20 to 25 branches into wealth management…
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