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HSBC to sell some Polish businesses.

Global Banking News-4 September 2009-HSBC to sell some Polish businesses(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 (LSE: HSBA) has announced that it is planning to sell its Polish consumer finance operation.

The bank said that it is going to sell its Polish HSBC Credit-branded consumer finance portfolio as well as its credit card portfolio to Alior Bank SA. The sale would be conducted at a premium to the book value of the receivables at the date of completion.

The gross asset value of the two portfolios was PLN1bn at the end of July.

[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:134
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