HSBC looking at possible exit from 12 countries: CFO Elhedery

May 25, 2023 03:31 AM

HSBC is reviewing a possible exit from as many as one in five of the countries it operates in, CFO Georges Elhedery said.

The reviews could see HSBC deciding to sell or streamline businesses in 12 countries. HSBC has faced pressure from Chinese shareholder Ping An to prioritise growth in its Asian business which reportedly generates 78% of group profit.

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