HSBC Exits U.S. Retail Banking to Target Wealth Business

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HSBC Exits U.S. Retail Banking to Target Wealth Business

Bloomberg2021-05-27

(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability. The London-based ...

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Gold75
·2021-05-27
Nice
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- Gold75:
  Nice
  2021-05-27
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- HENGJR:
  help like abd comment pls
  2021-05-27
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paxxie
·2021-05-27
pls comment
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sodium71
·2021-05-27
Lol
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- naniiiiii:
  huu
  2021-05-28
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- naniiiiii:
  lol
  2021-05-28
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- sodium71:
  hi
  2021-05-28
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Brrrrrrrrrrr
·2021-05-27
Not sure if they should change their name from Bank to Management
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TonyPhaLLeN
·2021-05-27
Oh wowie
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WTurtle
·2021-05-27
Bite the dust!
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It’s closing 35 to 40 other branches. The bank expects a pretax cost of $100 million from the transactions.</p>\n<p>The move is part of a larger plan by HSBC to pivot its business more to Asia with the lender also looking at exiting businesses in Europe. The bank has announced it will cut about 35,000 jobs globally to boost profitability after years of struggling with rock-bottom interest rates.</p>\n<p>“They are good businesses, but we lacked the scale to compete,” Chief Executive Officer Noel Quinn said in the statement. “Our continued presence in the US is key to our international network and an important contributor to our growth plans.”</p>\n<p>HSBC has <a href=\"https://laohu8.com/S/AONE\">one</a> of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.</p>\n<p>It’s also in the process of selling its French retail unit. 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The price wasn’t disclosed.</p>\n<p>Cathay Bank agreed to buy HSBC’s west coast domestic mass market and retail businesses, including 10 branches and about 50,000 customer relationships.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>HSBC Exits U.S. Retail Banking to Target Wealth Business</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHSBC Exits U.S. Retail Banking to Target Wealth Business\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 10:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.\nThe London-based ...</p>\n\n<a href=\"https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSBC":"汇丰","CFG":"Citizens Financial Group","HSBA.UK":"汇丰控股有限公司","TGT":"塔吉特","03143":"华夏香港银行股","00005":"汇丰控股"},"source_url":"https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2138142464","content_text":"(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.\nThe London-based bank will retain a network of 20 to 25 locations that will be transformed into international wealth centers, according to a statement. It’s closing 35 to 40 other branches. The bank expects a pretax cost of $100 million from the transactions.\nThe move is part of a larger plan by HSBC to pivot its business more to Asia with the lender also looking at exiting businesses in Europe. The bank has announced it will cut about 35,000 jobs globally to boost profitability after years of struggling with rock-bottom interest rates.\n“They are good businesses, but we lacked the scale to compete,” Chief Executive Officer Noel Quinn said in the statement. “Our continued presence in the US is key to our international network and an important contributor to our growth plans.”\nHSBC has one of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.\nIt’s also in the process of selling its French retail unit. The sale, which the bank started preparing in 2019, is now in the final stretch as Cerberus is the last remaining candidate to buy the asset.\nHSBC agreed to sell 80 of its branches to Citizens Financial Group Inc., a Providence, Rhode Island-based regional lender. Citizens will pick up about $9 billion in deposits and $2.2 billion in loans as part of the deal. The price wasn’t disclosed.\nCathay Bank agreed to buy HSBC’s west coast domestic mass market and retail businesses, including 10 branches and about 50,000 customer relationships.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4469269,"gmtCreate":1622105143115,"gmtModify":1680791309464,"authorId":3576993112269247,"author":{"id":3576993112269247,"idStr":"3576993112269247","authorId":3576993112269247,"name":"Gold75","avatar":"https://static.tigerbbs.com/3e12eb0f20c1c6eecc3de5d5be4a1184","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132244637,"type":1,"supId":0,"prevId":0,"content":"Nice","text":"Nice","html":"Nice"},{"id":4468502,"gmtCreate":1622099915158,"gmtModify":1680791302117,"authorId":3578460931764306,"author":{"id":3578460931764306,"idStr":"3578460931764306","authorId":3578460931764306,"name":"HENGJR","avatar":"https://static.tigerbbs.com/0596e746d9a22ec6462910c02c3129ce","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132244637,"type":1,"supId":0,"prevId":0,"content":"help like abd comment pls ","text":"help like abd comment pls ","html":"help like abd comment pls "}],"langContent":"EN"},{"id":132214685,"gmtCreate":1622091281747,"gmtModify":1704179300891,"author":{"id":"3559522411638426","authorId":"3559522411638426","name":"paxxie","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3559522411638426","authorIdStr":"3559522411638426"},"htmlText":"pls comment&nbsp;","listText":"pls comment&nbsp;","text":"pls comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/132214685","repostId":2138142464,"repostType":4,"repost":{"id":"2138142464","kind":"news","pubTimestamp":1622081042,"share":"https://ttm.financial/m/news/2138142464?lang=&edition=fundamental","pubTime":"2021-05-27 10:04","market":"us","language":"en","title":"HSBC Exits U.S. Retail Banking to Target Wealth Business","url":"https://stock-news.laohu8.com/highlight/detail?id=2138142464","media":"Bloomberg","summary":"(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agree","content":"<p>(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.</p>\n<p>The London-based bank will retain a network of 20 to 25 locations that will be transformed into international wealth centers, according to a statement. It’s closing 35 to 40 other branches. The bank expects a pretax cost of $100 million from the transactions.</p>\n<p>The move is part of a larger plan by HSBC to pivot its business more to Asia with the lender also looking at exiting businesses in Europe. The bank has announced it will cut about 35,000 jobs globally to boost profitability after years of struggling with rock-bottom interest rates.</p>\n<p>“They are good businesses, but we lacked the scale to compete,” Chief Executive Officer Noel Quinn said in the statement. “Our continued presence in the US is key to our international network and an important contributor to our growth plans.”</p>\n<p>HSBC has <a href=\"https://laohu8.com/S/AONE\">one</a> of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.</p>\n<p>It’s also in the process of selling its French retail unit. The sale, which the bank started preparing in 2019, is now in the final stretch as Cerberus is the last remaining candidate to buy the asset.</p>\n<p>HSBC agreed to sell 80 of its branches to <a href=\"https://laohu8.com/S/CFG\">Citizens Financial Group</a> Inc., a Providence, Rhode Island-based regional lender. Citizens will pick up about $9 billion in deposits and $2.2 billion in loans as part of the deal. The price wasn’t disclosed.</p>\n<p>Cathay Bank agreed to buy HSBC’s west coast domestic mass market and retail businesses, including 10 branches and about 50,000 customer relationships.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>HSBC Exits U.S. Retail Banking to Target Wealth Business</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHSBC Exits U.S. Retail Banking to Target Wealth Business\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 10:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.\nThe London-based ...</p>\n\n<a href=\"https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSBC":"汇丰","CFG":"Citizens Financial Group","HSBA.UK":"汇丰控股有限公司","TGT":"塔吉特","03143":"华夏香港银行股","00005":"汇丰控股"},"source_url":"https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2138142464","content_text":"(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.\nThe London-based bank will retain a network of 20 to 25 locations that will be transformed into international wealth centers, according to a statement. It’s closing 35 to 40 other branches. The bank expects a pretax cost of $100 million from the transactions.\nThe move is part of a larger plan by HSBC to pivot its business more to Asia with the lender also looking at exiting businesses in Europe. The bank has announced it will cut about 35,000 jobs globally to boost profitability after years of struggling with rock-bottom interest rates.\n“They are good businesses, but we lacked the scale to compete,” Chief Executive Officer Noel Quinn said in the statement. “Our continued presence in the US is key to our international network and an important contributor to our growth plans.”\nHSBC has one of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.\nIt’s also in the process of selling its French retail unit. The sale, which the bank started preparing in 2019, is now in the final stretch as Cerberus is the last remaining candidate to buy the asset.\nHSBC agreed to sell 80 of its branches to Citizens Financial Group Inc., a Providence, Rhode Island-based regional lender. Citizens will pick up about $9 billion in deposits and $2.2 billion in loans as part of the deal. The price wasn’t disclosed.\nCathay Bank agreed to buy HSBC’s west coast domestic mass market and retail businesses, including 10 branches and about 50,000 customer relationships.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":132218317,"gmtCreate":1622091016639,"gmtModify":1704179294745,"author":{"id":"3583925431932798","authorId":"3583925431932798","name":"sodium71","avatar":"https://static.tigerbbs.com/9262744ca4d5f470a4b09a85aeba6592","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3583925431932798","authorIdStr":"3583925431932798"},"htmlText":"Lol","listText":"Lol","text":"Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/132218317","repostId":2138142464,"repostType":4,"repost":{"id":"2138142464","kind":"news","pubTimestamp":1622081042,"share":"https://ttm.financial/m/news/2138142464?lang=&edition=fundamental","pubTime":"2021-05-27 10:04","market":"us","language":"en","title":"HSBC Exits U.S. Retail Banking to Target Wealth Business","url":"https://stock-news.laohu8.com/highlight/detail?id=2138142464","media":"Bloomberg","summary":"(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agree","content":"<p>(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.</p>\n<p>The London-based bank will retain a network of 20 to 25 locations that will be transformed into international wealth centers, according to a statement. It’s closing 35 to 40 other branches. The bank expects a pretax cost of $100 million from the transactions.</p>\n<p>The move is part of a larger plan by HSBC to pivot its business more to Asia with the lender also looking at exiting businesses in Europe. The bank has announced it will cut about 35,000 jobs globally to boost profitability after years of struggling with rock-bottom interest rates.</p>\n<p>“They are good businesses, but we lacked the scale to compete,” Chief Executive Officer Noel Quinn said in the statement. “Our continued presence in the US is key to our international network and an important contributor to our growth plans.”</p>\n<p>HSBC has <a href=\"https://laohu8.com/S/AONE\">one</a> of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.</p>\n<p>It’s also in the process of selling its French retail unit. The sale, which the bank started preparing in 2019, is now in the final stretch as Cerberus is the last remaining candidate to buy the asset.</p>\n<p>HSBC agreed to sell 80 of its branches to <a href=\"https://laohu8.com/S/CFG\">Citizens Financial Group</a> Inc., a Providence, Rhode Island-based regional lender. Citizens will pick up about $9 billion in deposits and $2.2 billion in loans as part of the deal. The price wasn’t disclosed.</p>\n<p>Cathay Bank agreed to buy HSBC’s west coast domestic mass market and retail businesses, including 10 branches and about 50,000 customer relationships.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>HSBC Exits U.S. Retail Banking to Target Wealth Business</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHSBC Exits U.S. Retail Banking to Target Wealth Business\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 10:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.\nThe London-based ...</p>\n\n<a href=\"https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSBC":"汇丰","CFG":"Citizens Financial Group","HSBA.UK":"汇丰控股有限公司","TGT":"塔吉特","03143":"华夏香港银行股","00005":"汇丰控股"},"source_url":"https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2138142464","content_text":"(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.\nThe London-based bank will retain a network of 20 to 25 locations that will be transformed into international wealth centers, according to a statement. It’s closing 35 to 40 other branches. The bank expects a pretax cost of $100 million from the transactions.\nThe move is part of a larger plan by HSBC to pivot its business more to Asia with the lender also looking at exiting businesses in Europe. The bank has announced it will cut about 35,000 jobs globally to boost profitability after years of struggling with rock-bottom interest rates.\n“They are good businesses, but we lacked the scale to compete,” Chief Executive Officer Noel Quinn said in the statement. “Our continued presence in the US is key to our international network and an important contributor to our growth plans.”\nHSBC has one of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.\nIt’s also in the process of selling its French retail unit. The sale, which the bank started preparing in 2019, is now in the final stretch as Cerberus is the last remaining candidate to buy the asset.\nHSBC agreed to sell 80 of its branches to Citizens Financial Group Inc., a Providence, Rhode Island-based regional lender. Citizens will pick up about $9 billion in deposits and $2.2 billion in loans as part of the deal. The price wasn’t disclosed.\nCathay Bank agreed to buy HSBC’s west coast domestic mass market and retail businesses, including 10 branches and about 50,000 customer relationships.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4481814,"gmtCreate":1622183435103,"gmtModify":1680791538532,"authorId":3584919280392759,"author":{"id":3584919280392759,"idStr":"3584919280392759","authorId":3584919280392759,"name":"naniiiiii","avatar":"https://static.tigerbbs.com/e2d1dea93ad3495381b0cc84b1f57a79","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132218317,"type":1,"supId":0,"prevId":0,"content":"<u>huu</u>","text":"<u>huu</u>","html":"<u>huu</u>"},{"id":4481839,"gmtCreate":1622183610578,"gmtModify":1680791536312,"authorId":3584919280392759,"author":{"id":3584919280392759,"idStr":"3584919280392759","authorId":3584919280392759,"name":"naniiiiii","avatar":"https://static.tigerbbs.com/e2d1dea93ad3495381b0cc84b1f57a79","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132218317,"type":1,"supId":0,"prevId":0,"content":"<u>lol</u>","text":"<u>lol</u>","html":"<u>lol</u>"},{"id":4481844,"gmtCreate":1622183631878,"gmtModify":1680791532641,"authorId":3583925431932798,"author":{"id":3583925431932798,"idStr":"3583925431932798","authorId":3583925431932798,"name":"sodium71","avatar":"https://static.tigerbbs.com/9262744ca4d5f470a4b09a85aeba6592","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132218317,"type":1,"supId":4481839,"prevId":0,"content":"hi","text":"hi","html":"hi"},{"id":4467332,"gmtCreate":1622091181287,"gmtModify":1680791274336,"authorId":3583925431932798,"author":{"id":3583925431932798,"idStr":"3583925431932798","authorId":3583925431932798,"name":"sodium71","avatar":"https://static.tigerbbs.com/9262744ca4d5f470a4b09a85aeba6592","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132218317,"type":1,"supId":4467311,"prevId":0,"content":"<u>why</u>","text":"<u>why</u>","html":"<u>why</u>"},{"id":4467311,"gmtCreate":1622091104093,"gmtModify":1680791272223,"authorId":3584919280392759,"author":{"id":3584919280392759,"idStr":"3584919280392759","authorId":3584919280392759,"name":"naniiiiii","avatar":"https://static.tigerbbs.com/e2d1dea93ad3495381b0cc84b1f57a79","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":132218317,"type":1,"supId":0,"prevId":0,"content":"<u>huh</u>","text":"<u>huh</u>","html":"<u>huh</u>"}],"langContent":"EN"},{"id":132292729,"gmtCreate":1622090004761,"gmtModify":1704179273308,"author":{"id":"3575461551657808","authorId":"3575461551657808","name":"Brrrrrrrrrrr","avatar":"https://static.tigerbbs.com/97d44d09feebf875ee4ab34bd4d5eb7e","vip":1,"hat":"https://static.tigerbbs.com/50a4c8d97279fa9f8f1fa9749a6bdff4","crmLevel":8,"crmLevelSwitch":1,"idStr":"3575461551657808","authorIdStr":"3575461551657808"},"htmlText":"Not sure if they should change their name from Bank to Management","listText":"Not sure if they should change their name from Bank to Management","text":"Not sure if they should change their name from Bank to Management","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/132292729","repostId":2138142464,"repostType":4,"repost":{"id":"2138142464","kind":"news","pubTimestamp":1622081042,"share":"https://ttm.financial/m/news/2138142464?lang=&edition=fundamental","pubTime":"2021-05-27 10:04","market":"us","language":"en","title":"HSBC Exits U.S. Retail Banking to Target Wealth Business","url":"https://stock-news.laohu8.com/highlight/detail?id=2138142464","media":"Bloomberg","summary":"(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agree","content":"<p>(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.</p>\n<p>The London-based bank will retain a network of 20 to 25 locations that will be transformed into international wealth centers, according to a statement. It’s closing 35 to 40 other branches. The bank expects a pretax cost of $100 million from the transactions.</p>\n<p>The move is part of a larger plan by HSBC to pivot its business more to Asia with the lender also looking at exiting businesses in Europe. The bank has announced it will cut about 35,000 jobs globally to boost profitability after years of struggling with rock-bottom interest rates.</p>\n<p>“They are good businesses, but we lacked the scale to compete,” Chief Executive Officer Noel Quinn said in the statement. “Our continued presence in the US is key to our international network and an important contributor to our growth plans.”</p>\n<p>HSBC has <a href=\"https://laohu8.com/S/AONE\">one</a> of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.</p>\n<p>It’s also in the process of selling its French retail unit. The sale, which the bank started preparing in 2019, is now in the final stretch as Cerberus is the last remaining candidate to buy the asset.</p>\n<p>HSBC agreed to sell 80 of its branches to <a href=\"https://laohu8.com/S/CFG\">Citizens Financial Group</a> Inc., a Providence, Rhode Island-based regional lender. Citizens will pick up about $9 billion in deposits and $2.2 billion in loans as part of the deal. The price wasn’t disclosed.</p>\n<p>Cathay Bank agreed to buy HSBC’s west coast domestic mass market and retail businesses, including 10 branches and about 50,000 customer relationships.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>HSBC Exits U.S. Retail Banking to Target Wealth Business</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHSBC Exits U.S. Retail Banking to Target Wealth Business\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 10:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.\nThe London-based ...</p>\n\n<a href=\"https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSBC":"汇丰","CFG":"Citizens Financial Group","HSBA.UK":"汇丰控股有限公司","TGT":"塔吉特","03143":"华夏香港银行股","00005":"汇丰控股"},"source_url":"https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2138142464","content_text":"(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.\nThe London-based bank will retain a network of 20 to 25 locations that will be transformed into international wealth centers, according to a statement. It’s closing 35 to 40 other branches. The bank expects a pretax cost of $100 million from the transactions.\nThe move is part of a larger plan by HSBC to pivot its business more to Asia with the lender also looking at exiting businesses in Europe. The bank has announced it will cut about 35,000 jobs globally to boost profitability after years of struggling with rock-bottom interest rates.\n“They are good businesses, but we lacked the scale to compete,” Chief Executive Officer Noel Quinn said in the statement. “Our continued presence in the US is key to our international network and an important contributor to our growth plans.”\nHSBC has one of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.\nIt’s also in the process of selling its French retail unit. The sale, which the bank started preparing in 2019, is now in the final stretch as Cerberus is the last remaining candidate to buy the asset.\nHSBC agreed to sell 80 of its branches to Citizens Financial Group Inc., a Providence, Rhode Island-based regional lender. Citizens will pick up about $9 billion in deposits and $2.2 billion in loans as part of the deal. The price wasn’t disclosed.\nCathay Bank agreed to buy HSBC’s west coast domestic mass market and retail businesses, including 10 branches and about 50,000 customer relationships.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":132670143,"gmtCreate":1622088168382,"gmtModify":1704179235379,"author":{"id":"3579513594302985","authorId":"3579513594302985","name":"TonyPhaLLeN","avatar":"https://static.tigerbbs.com/e658111e804aea12d23a2d5567d98572","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579513594302985","authorIdStr":"3579513594302985"},"htmlText":"Oh wowie","listText":"Oh wowie","text":"Oh wowie","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/132670143","repostId":2138142464,"repostType":4,"repost":{"id":"2138142464","kind":"news","pubTimestamp":1622081042,"share":"https://ttm.financial/m/news/2138142464?lang=&edition=fundamental","pubTime":"2021-05-27 10:04","market":"us","language":"en","title":"HSBC Exits U.S. Retail Banking to Target Wealth Business","url":"https://stock-news.laohu8.com/highlight/detail?id=2138142464","media":"Bloomberg","summary":"(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agree","content":"<p>(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.</p>\n<p>The London-based bank will retain a network of 20 to 25 locations that will be transformed into international wealth centers, according to a statement. It’s closing 35 to 40 other branches. The bank expects a pretax cost of $100 million from the transactions.</p>\n<p>The move is part of a larger plan by HSBC to pivot its business more to Asia with the lender also looking at exiting businesses in Europe. The bank has announced it will cut about 35,000 jobs globally to boost profitability after years of struggling with rock-bottom interest rates.</p>\n<p>“They are good businesses, but we lacked the scale to compete,” Chief Executive Officer Noel Quinn said in the statement. “Our continued presence in the US is key to our international network and an important contributor to our growth plans.”</p>\n<p>HSBC has <a href=\"https://laohu8.com/S/AONE\">one</a> of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.</p>\n<p>It’s also in the process of selling its French retail unit. The sale, which the bank started preparing in 2019, is now in the final stretch as Cerberus is the last remaining candidate to buy the asset.</p>\n<p>HSBC agreed to sell 80 of its branches to <a href=\"https://laohu8.com/S/CFG\">Citizens Financial Group</a> Inc., a Providence, Rhode Island-based regional lender. Citizens will pick up about $9 billion in deposits and $2.2 billion in loans as part of the deal. The price wasn’t disclosed.</p>\n<p>Cathay Bank agreed to buy HSBC’s west coast domestic mass market and retail businesses, including 10 branches and about 50,000 customer relationships.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>HSBC Exits U.S. Retail Banking to Target Wealth Business</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHSBC Exits U.S. Retail Banking to Target Wealth Business\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 10:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.\nThe London-based ...</p>\n\n<a href=\"https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSBC":"汇丰","CFG":"Citizens Financial Group","HSBA.UK":"汇丰控股有限公司","TGT":"塔吉特","03143":"华夏香港银行股","00005":"汇丰控股"},"source_url":"https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2138142464","content_text":"(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.\nThe London-based bank will retain a network of 20 to 25 locations that will be transformed into international wealth centers, according to a statement. It’s closing 35 to 40 other branches. The bank expects a pretax cost of $100 million from the transactions.\nThe move is part of a larger plan by HSBC to pivot its business more to Asia with the lender also looking at exiting businesses in Europe. The bank has announced it will cut about 35,000 jobs globally to boost profitability after years of struggling with rock-bottom interest rates.\n“They are good businesses, but we lacked the scale to compete,” Chief Executive Officer Noel Quinn said in the statement. “Our continued presence in the US is key to our international network and an important contributor to our growth plans.”\nHSBC has one of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.\nIt’s also in the process of selling its French retail unit. The sale, which the bank started preparing in 2019, is now in the final stretch as Cerberus is the last remaining candidate to buy the asset.\nHSBC agreed to sell 80 of its branches to Citizens Financial Group Inc., a Providence, Rhode Island-based regional lender. Citizens will pick up about $9 billion in deposits and $2.2 billion in loans as part of the deal. The price wasn’t disclosed.\nCathay Bank agreed to buy HSBC’s west coast domestic mass market and retail businesses, including 10 branches and about 50,000 customer relationships.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":132647160,"gmtCreate":1622088121150,"gmtModify":1704179233916,"author":{"id":"3561975721283567","authorId":"3561975721283567","name":"WTurtle","avatar":"https://static.tigerbbs.com/f365603f5d6014baec364bc1bdd93afd","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3561975721283567","authorIdStr":"3561975721283567"},"htmlText":"Bite the dust!","listText":"Bite the dust!","text":"Bite the dust!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/132647160","repostId":2138142464,"repostType":4,"repost":{"id":"2138142464","kind":"news","pubTimestamp":1622081042,"share":"https://ttm.financial/m/news/2138142464?lang=&edition=fundamental","pubTime":"2021-05-27 10:04","market":"us","language":"en","title":"HSBC Exits U.S. Retail Banking to Target Wealth Business","url":"https://stock-news.laohu8.com/highlight/detail?id=2138142464","media":"Bloomberg","summary":"(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agree","content":"<p>(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.</p>\n<p>The London-based bank will retain a network of 20 to 25 locations that will be transformed into international wealth centers, according to a statement. It’s closing 35 to 40 other branches. The bank expects a pretax cost of $100 million from the transactions.</p>\n<p>The move is part of a larger plan by HSBC to pivot its business more to Asia with the lender also looking at exiting businesses in Europe. The bank has announced it will cut about 35,000 jobs globally to boost profitability after years of struggling with rock-bottom interest rates.</p>\n<p>“They are good businesses, but we lacked the scale to compete,” Chief Executive Officer Noel Quinn said in the statement. “Our continued presence in the US is key to our international network and an important contributor to our growth plans.”</p>\n<p>HSBC has <a href=\"https://laohu8.com/S/AONE\">one</a> of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.</p>\n<p>It’s also in the process of selling its French retail unit. The sale, which the bank started preparing in 2019, is now in the final stretch as Cerberus is the last remaining candidate to buy the asset.</p>\n<p>HSBC agreed to sell 80 of its branches to <a href=\"https://laohu8.com/S/CFG\">Citizens Financial Group</a> Inc., a Providence, Rhode Island-based regional lender. Citizens will pick up about $9 billion in deposits and $2.2 billion in loans as part of the deal. The price wasn’t disclosed.</p>\n<p>Cathay Bank agreed to buy HSBC’s west coast domestic mass market and retail businesses, including 10 branches and about 50,000 customer relationships.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>HSBC Exits U.S. Retail Banking to Target Wealth Business</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHSBC Exits U.S. Retail Banking to Target Wealth Business\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 10:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.\nThe London-based ...</p>\n\n<a href=\"https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSBC":"汇丰","CFG":"Citizens Financial Group","HSBA.UK":"汇丰控股有限公司","TGT":"塔吉特","03143":"华夏香港银行股","00005":"汇丰控股"},"source_url":"https://finance.yahoo.com/news/hsbc-exits-u-retail-banking-010402281.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2138142464","content_text":"(Bloomberg) -- HSBC Holdings Plc exited its U.S. domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender seeks to boost profitability.\nThe London-based bank will retain a network of 20 to 25 locations that will be transformed into international wealth centers, according to a statement. It’s closing 35 to 40 other branches. The bank expects a pretax cost of $100 million from the transactions.\nThe move is part of a larger plan by HSBC to pivot its business more to Asia with the lender also looking at exiting businesses in Europe. The bank has announced it will cut about 35,000 jobs globally to boost profitability after years of struggling with rock-bottom interest rates.\n“They are good businesses, but we lacked the scale to compete,” Chief Executive Officer Noel Quinn said in the statement. “Our continued presence in the US is key to our international network and an important contributor to our growth plans.”\nHSBC has one of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.\nIt’s also in the process of selling its French retail unit. The sale, which the bank started preparing in 2019, is now in the final stretch as Cerberus is the last remaining candidate to buy the asset.\nHSBC agreed to sell 80 of its branches to Citizens Financial Group Inc., a Providence, Rhode Island-based regional lender. Citizens will pick up about $9 billion in deposits and $2.2 billion in loans as part of the deal. The price wasn’t disclosed.\nCathay Bank agreed to buy HSBC’s west coast domestic mass market and retail businesses, including 10 branches and about 50,000 customer relationships.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":9,"commentSize":6,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}