HSBC to sell businesses in four Latin American countries for US$400 million

By | 14 May 2012 | 2 minutes read

HSBC continues its aggressive attack on costs, agreeing to sell its operations in Colombia, Peru, Uruguay and Paraguay to Colombian bank, Banco GNB Sudameris for US$400 million. The London-based bank says the sale includes 62 branches and assets totalling US$4.4 billion as of the end of 2011. The sale is subject to regulatory approval in the respective countries and the…

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