HSBC to sell Argentina business for $550M, expects $1B pre-tax loss

HSBC is set to sell its Argentina business for $550M to Grupo Financiero Galicia, in a move to focus on Asian markets and reduce earnings volatility.

By: Seeking Alpha

Apr 09 2024
32
4487 Views

HSBC (NYSE:HSBC) will sell its Argentina business for $550M to Buenos Aires-based Grupo Financiero Galicia and book a $1B pre-tax loss from the sale in Q1 2024. The transaction will be treated as a material notable item and excluded from the dividend... [882 chars]

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HSBC to sell Argentina business for $550M, expects $1B pre-tax loss

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