LONDON : HSBC on Wednesday announced new potential terms for the sale of its French retail banking business, which it said might allow the transaction to proceed after it stalled earlier this year on regulatory capital concerns.
HSBC said the indirect shareholder of My Money Group, which is buying HSBC’s French retail bank, will contribute 225 million euros of capital to My Money Group, in a bid to quell regulatory worries about the capital levels of the combined new entity.
HSBC will also retain a portfolio of home loans worth around 7 billion euros, originally earmarked as part of the deal and which it said it might still look to sell at a later date.
(Reporting By Lawrence White, editing by Sinead Cruise)
Source: CNA
