HSBC has agreed to sell its business in Argentina to Grupo Financiero Galicia, in a deal worth $550 million. The London-based bank will incur a $1 billion loss from the sale as part of its strategic shift towards focusing on Asia.
#ARGWatch🇦🇷: @HSBC is the latest multinational giant to abandon its business in Argentina. If @JMilei had stuck by his campaign promise to DITCH THE PESO & DOLLARIZE, foreign investors would be flocking to Argentina--not RUNNING AWAY.
#ARGWatch🇦🇷: HSBC, one of the world's largest banking & financial organizations, has announced it will be selling its business in Argentina —taking a $1bn LOSS on the deal. HSBC also experienced a HUGE loss on the foreign exchange -- the recognition of $4.9bn in "historical…
HSBC said Tuesday that it will book a $1 billion loss on the sale of its business in Argentina to local lender Grupo Financiero Galicia, as the London-based bank continues to shift its focus to Asia. https://t.co/LiUUMbd2vY
HSBC to take $1bn hit on sale of Argentina unit https://t.co/FaOziK8B2I
HSBC agrees to sell off its Argentina business https://t.co/ottJ9ShofH
HSBC pulls out of Argentina at a $1 billion loss as Asia pivot continues. https://t.co/TqmArjsX6q
HSBC Holdings announced the sale of its business in Argentina as the London-based lender continues to unload operations and narrow its focus on Asia. https://t.co/bGKHvUf20c
HSBC to sell Argentina business in $550 million deal https://t.co/a2oKT3IHBT
Watch Business Live with Ian King as HSBC agrees to sell its business in Argentina for $550million. Business news: https://t.co/JOwzJqdch6 https://t.co/idbqTkUPcP
$HSBC (+0.5% pre) HSBC takes $1 bln hit from Argentina sale as Asia pivot continues - Reuters https://t.co/yoka1hW6uB
HSBC takes US$1-billion hit from Argentina sale as Asia pivot continues https://t.co/A8oLvUMSit