HSBC in talks to sell US business

9th August 2011, Comments 0 comments

Global banking giant HSBC said Tuesday it was in talks regarding the possible sale of its US card and retail services business.

"HSBC confirms that it is in discussions regarding a possible sale of the business. These discussions are ongoing and no decision has yet been made to proceed with any transaction," the London-based company said in a statement.

Reports on Monday said that Capital One Financial Corp. was in advanced talks to buy HSBC's US credit card portfolio in a deal that would include about $30 billion of loans.

HSBC, founded in Hong Kong and Shanghai in 1865, currently sees Asia as its key growth region.

© 2011 AFP

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