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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 - http://www.enpublishing.co.uk

Global Banking News - 04 September 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

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 gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Sep 4, 2009
Words:160
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