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British bank HSBC Holdings PLC announced Wednesday that it will sell most of its retail locations across the U.S., reducing 148 branches down to 58 and winding down an additional 35 to 40 branches ...
TORONTO (Reuters) -Canadian regulators will review the sale of HSBC's business in Canada to Royal Bank of Canada for C$13.5 billion ($10 billion) in cash, the Canadian government's finance ...
HSBC's push into credit cards and personal loans in the United States will be no easy task as the bank faces entrenched domestic rivals and the legacy of a previous disastrous foray into U.S. lending.
This came as a surprise after HSBC sold its branch network in Upstate New York in 2012 to First Niagara, KeyBank, Community Bank, N.A. and Five Star Bank. In January 2019, HSBC announced it would open two new branches in Western New York, as part of the bank’s initiative to open 50 branches in new and existing markets in the United States.
HSBC Bank USA of New York, with assets of US$87 billion, and HSBC Canada, with assets of Can$34 billion, share some operating resources but remain separate units. On June 1, 2004, HSBC Bank Canada completed its acquisition of Intesa Bank's Canadian unit, which had 11 branches and total assets of Can$1.1 billion.
On August 10, 2011, Capital One Financial Corp announced that it will buy the U.S. credit card arm of Britain's HSBC for a premium of about US$2.6 billion as a way to expand its domestic credit card business. [12] [13] The acquisition includes the HSBC unit's approximately US$30 billion credit card portfolio.
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CBS News Roundup is an American overnight news program broadcast by CBS News 24/7 and CBS. Airing during the early morning hours each Monday through Friday, the program is anchored on Mondays by Matt Pieper, and by Shanelle Kaul during the remainder of the week.