March 21, 2023

HSBC reportedly planning to sell Canada business

The bank is said to be reviewing its strategic options in Canada.

HSBC is considering selling its Canada business as it intends to beef up returns pressed for by its largest shareholder. The bank announced that it is currently reviewing its strategy options with reference to their subsidiary in Canada. The said review is at an early stage, and no final decision has been finalized, but the firm potentially sees an option in selling one of the lender’s 100 percent stake in HSBC Bank Canada, as divestment at HSBC.