LONDON (Reuters) -HSBC Holdings ( HSBC ) is currently exploring a sale of its South Africa businesses, Bloomberg News reported on Tuesday, as the once globe-spanning company continues to move its focus towards Asia.
The lender's business in the country operates as a branch of its British unit and offers commercial and investment banking services, with no personal or retail banking, according to its website.
A spokesperson for HSBC ( HSBC ) declined to comment, citing a company policy not to comment on market speculation.
African, Chinese and United Arab Emirates-based bidders have shown interest in HSBC's ( HSBC ) South African business, Bloomberg reported.
HSBC ( HSBC ) entered South Africa in 1995, and today serves mainly large companies operating on the continent.
HSBC ( HSBC ) has in recent years been slashing its businesses in Western markets such as the U.S., France, and Canada as it focuses on Asia and markets where it has scale.