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Latin America Investment News on Viva Tropical

HSBC Selling Off Banking Branches in Costa Rica, Honduras and El Salvador

Article Summary:

British bank HSBC announced that it is in talks to sell its activities in several South American countries under the new strategy announced last year. This includes insurance activities in Mexico and retail banking business in Costa Rica, El Salvador, and Honduras.

Original Article Text From Prensa Libre via Google Translate :

HSBC explores sale of Assets
In a statement, the bank said it is negotiating “the possible sale of its operations in Colombia, Peru, Uruguay and Paraguay.”

“HSBC will announce more when appropriate,” he said without elaborating.

The banking giant is involved in a divestiture plan in the framework of the implementation of the strategic plan announced in May 2011, which seeks to save to finance its expansion in growth markets, especially in Asia.

In regard to Latin America, HSBC fell off in recent months and recently its insurance activities in Mexico and Argentina, its retail banking business in Chile and its banking operations in Costa Rica, El Salvador and Honduras .

Link to Original Article:

From Prensa Libre

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