HSBC to Divest German Private Banking Business to BNP Paribas

Zacks09-23

HSBC Holdings HSBC has signed an agreement to sell its private banking business in Germany to BNP Paribas BNPQY. The deal's financial terms, expected to close in the second half of 2025, have not been...

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The deal's financial terms, expected to close in the second half of 2025, have not been...</p>\n\n<a href=\"https://finance.yahoo.com/news/hsbc-divest-german-private-banking-105400325.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BNPQY","symbol_name":"BNP Paribas","start_time":0,"source_url":"https://finance.yahoo.com/news/hsbc-divest-german-private-banking-105400325.html","article_id":"2469119889","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/yM2AAyXrqTaXtKtrw4bnvQ--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/59744b4fcca70e73cbe3b535b1bc283a"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2469119889","pubTimestamp":1727088840,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"HSBC Holdings HSBC has signed an agreement to sell its private banking business in Germany to BNP Paribas BNPQY. The deal's financial terms, expected to close in the second half of 2025, have not been disclosed.The transaction, still subject to relevant regulatory approvals, is projected to result in a gain on sale for HSBC. As part of the agreement, the assets and customers of HSBC Germany’s private banking business, along with nearly 120 employees, will be transferred to BNPQY.For BNPQY, the deal aligns with its goal “to position BNP Paribas Wealth Management among the top leading players in Germany.”Michael Schleef, CEO of HSBC Germany, said, “We are very pleased that we have found a strategic buyer for our private banking activities in Germany who is well positioned to take the business forward.” The transaction will help further simply the company’s business model and enable it to focus on the global “wholesale banking business.”Divestiture Aligns With HSBC’s Asia Pivot Strategy","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BNPQY":"BNP Paribas","BK4521":"英国银行股","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","BK4585":"ETF&股票定投概念","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","BK4534":"瑞士信贷持仓","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU0162691827.USD":"BGF US BASIC VALUE \"A4\" INC","BK4566":"资本集团","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","BK4588":"碎股","HSBC":"汇丰","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","BK4207":"综合性银行","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","LU0072461881.USD":"BGF US BASIC VALUE \"A2\" ACC","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU0106831901.USD":"贝莱德世界金融基金A2","BK4504":"桥水持仓","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC"},"translate_title":"汇丰银行将德国私人银行业务剥离给法国巴黎银行","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BNPQY":1,"HSBC":1},"content_text":"HSBC Holdings HSBC has signed an agreement to sell its private banking business in Germany to BNP Paribas BNPQY. The deal's financial terms, expected to close in the second half of 2025, have not been disclosed.The transaction, still subject to relevant regulatory approvals, is projected to result in a gain on sale for HSBC. As part of the agreement, the assets and customers of HSBC Germany’s private banking business, along with nearly 120 employees, will be transferred to BNPQY.For BNPQY, the deal aligns with its goal “to position BNP Paribas Wealth Management among the top leading players in Germany.” Michael Schleef, CEO of HSBC Germany, said, “We are very pleased that we have found a strategic buyer for our private banking activities in Germany who is well positioned to take the business forward.” The transaction will help further simply the company’s business model and enable it to focus on the global “wholesale banking business.”\nDivestiture Aligns With HSBC’s Asia Pivot Strategy\nHSBC has been actively restructuring its global operations to focus on the lucrative Asia region, where the bank believes it can leverage its existing strengths to drive growth. Last month, Bloomberg reported that the company is considering selling its South African businesses, which has garnered interest from regional banks and institutions from China and the United Arab Emirates.HSBC has sold its retail operations in the United States, Canada, France, New Zealand, Greece and Russia. In April 2024, it announced an agreement to divest its Argentina business, while in February, the company agreed to sell its Armenian unit.HSBC intends to reinvest the proceeds from the divestitures in expanding its presence in Southeast Asia and China. In sync with this, in June 2024, the company acquired Citigroup's C retail wealth management business in China. More than 300 employees of Citigroup were transferred to HSBC as part of the deal.Earlier, in January, it acquired Singapore-based SilkRoad Property Partners Group. Also, HSBC re-launched its private banking business in India. In 2022, the company acquired 100% of the issued share capital of AXA Insurance in Singapore and L&T Investment Management Limited.Over the past year, shares of HSBC have rallied 12.1%, underperforming the industry’s growth of 26.6%. \nImage Source: Zacks Investment Research\nCurrently, HSBC carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\n$Citigroup Inc(C-N)$. (C) : Free Stock Analysis Report\nBNP Paribas SA (BNPQY) : Free Stock Analysis Report\nHSBC Holdings plc (HSBC) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2469119889"}