Printer Friendly

HSBC's Polish unit to sell some assets to Alior Bank.

Global Banking News-4 September 2009-HSBC's Polish unit to sell some assets to Alior Bank(C)2009 ENPublishing -

Global Banking News - 04 September 2009(c)2005 - Electronic News Publishing -

HSBC Holdings Plc (LSE: HSBA) (NYSE: HBC) (HKG: 0005) has said that HSBC Bank Polska SA has agreed to sell its HSBC Credit branded consumer finance portfolio, and its credit card portfolio, to Alior Bank SA.

The gross asset value of the two portfolios was PLN1bn (USD350m) at July 31.

Following the sale HSBC Bank Polska will focus on growing its personal banking services aimed primarily at premier and middle class segments. The bank will also continue to strengthen its global banking and markets and commercial banking businesses.

The sale is expected to be concluded in the fourth quarter of 2009.

[Editorial queries for this story should be sent to]

((Distributed via M2 Communications -
COPYRIGHT 2009 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Sep 4, 2009
Previous Article:Sri Lanka plans USD500m bond issue.
Next Article:India's Nabard likely to raise INR25bn via 10-year bonds.

Related Articles
HSBC to cut 193 jobs in India.
HSBC Canada Asset Trust announces distribution.
Taiwan regulator approves HSBC to sell two ETFs.
HSBC Bank plans to offer JPY60bn Samurai bonds.
HSBC to sell some Polish businesses.
HSBC postpones its first Islamic bond fund.
HSBC Private Bank names MD of alternative funds.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |