HSBC closes sale of its retail banking business in France to CCF
HSBC Continental Europe (HBCE) has completed the sale of its retail banking business in France to CCF, a subsidiary of My Money Group.
All necessary regulatory approvals were obtained and the transaction completed on 1 January 2024.
Commenting on the transaction, Noel Quinn, Group CEO said:
“I am pleased to announce the completion of the sale of HSBC‘s Retail Banking activities in France. This represents an important milestone in our strategic vision for Europe. I am delighted with this positive start to 2024 – our team in Europe will continue with the aim of becoming the leading international wholesale bank in Europe, complemented by a targeted Wealth and Private Banking business.”