HSBC: about to sell private banking in Germany

(CercleFinance.com) - HSBC Continental Europe, an indirect subsidiary of HSBC Holdings, announces that it has reached an agreement to sell its private banking activities in Germany to BNP Paribas, a potential transaction that should generate a gain on disposal.


Subject to the necessary approvals from financial and governmental authorities and the conclusion of negotiations with employee representative bodies in Germany, the transaction is expected to be completed in H2 2025.

Around 120 employees would be transferred to BNP Paribas as part of the sale, which will enable HSBC Germany to simplify its business model, as well as to focus more on its international financing and markets activities.


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