financetom
Business
financetom
/
Business
/
HSBC mulls sale of South Africa business, Bloomberg News reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
HSBC mulls sale of South Africa business, Bloomberg News reports
Aug 20, 2024 3:08 AM

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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
--Meta in Talks to Buy PlayAI, Bloomberg Reports
--Meta in Talks to Buy PlayAI, Bloomberg Reports
Jun 26, 2025
01:30 PM EDT, 06/26/2025 (MT Newswires) -- Price: 725.60, Change: +16.92, Percent Change: +2.39 ...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Union 'Salts' Stir The Pot As Starbucks Ramps Up Hiring
Union 'Salts' Stir The Pot As Starbucks Ramps Up Hiring
Jun 26, 2025
Starbucks Corp. ( SBUX ) is reportedly navigating heightened union tensions as Workers United launches a bold initiative encouraging labor organizers to apply for barista roles. The union’s move coincides with Starbucks’ plans to bolster store staffing, potentially turning the company’s hiring spree into an unexpected organizing opportunity, Financial Times reports. Through a public campaign on social media, Workers United...
Stifel Canada on AtkinsRealis Buying Back Shares From La Caisse
Stifel Canada on AtkinsRealis Buying Back Shares From La Caisse
Jun 26, 2025
01:34 PM EDT, 06/26/2025 (MT Newswires) -- AtkinsRealis Group ( SNCAF ) is buying back 7 million of its shares held by La Caisse for $636 million, which Stifel Canada views is a good use of proceeds given the company's net cash position after the sale of its interest in Highway 407. The stock remains Stifel Canada's best large-cap idea....
Copyright 2023-2026 - www.financetom.com All Rights Reserved