The Hongkong and Shanghai Banking Corporation, commonly known as HSBC Holdings plc, is a British universal bank and financial services group headquartered in London, England. It was founded in 1991 and offers a wide range of products and services, including personal banking, business banking, wealth management, etc., with presence in over 60 countries.
According to reports, HSBC announced the sale of its Argentina business to Galicia, the largest private financial group in the country, for $550 million. Citing hyperinflation economic conditions. This comes when the bank pushes into Asia as part of a strategic overhaul, aiming to streamline operations and focus on higher-value opportunities across its international network.
HSBC said that the deal awaited government approval but was expected to be finalized by the year-end.
