HSBC sells US card and retail business, makes US$2.4 billion

10 August 2011 | 1 minute read

HSBC has confirmed that it has sold its US card and retail businesses to Capital One Financial Corporation for US$32.7 billion. HSBC’s pots-tax gain on the sale is estimated to be US$2.4 billion. Earlier in the month, HSBC sold its upstate New York branch network to First Niagara Financial Group Inc. for US$1 billion. Although the bank continues to view…

To access this content, please click back to the home screen, then click “Menu” (bars in top left bars) and then “Login”.
To enquire for a free trial, please start here.
Need more help? Click here or email [email protected].

Have a confidential tip? Get in touch [email protected]