10:17 AM EDT, 07/28/2025 (MT Newswires) -- (Updates headline and lede with confirmation from BTG Pactual)

HSBC Holdings ( HSBC ) sold its Uruguay operations to BTG Pactual for $175 million, the Brazilian bank confirmed Monday.

With this move, BTG Pactual will operate in retail and investment banking, corporate credit, investment banking and wealth management, serving individuals and businesses of all sizes, according to the lender.

BTG Pactual said HSBC ( HSBC ) had five branches in Uruguay at the end of 2024.

Price: 64.50, Change: -0.42, Percent Change: -0.65