12:33 PM EDT, 04/02/2024 (MT Newswires) -- (Updates with HSBC's ( HSBC ) response in the third paragraph.)

HSBC ( HSBC ) is exploring the sale of its wealth-management, custody and fund administration units in Germany, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The strategic review is at an early stage and may not lead to a sale, although the London-based lender has retained advisors to assist with the process, the sources told Bloomberg. HSBC ( HSBC ) corporate-banking and trading operations in Germany are not part of the discussions, they said.

The bank told MT Newswires that it does not comment on market speculation.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 39.27, Change: -0.04, Percent Change: -0.11