HSBC rumoured to sell Thai retail banking business

The move is seen as part of a plan to exit retail banking businesses that lack scale.

HSBC’s Thai retail banking business is rumoured to be up for sale, as part of a restructuring plan for its global retail operations. When asked if a sale was on the cards, a Hong Kong-based spokesperson said “We do not comment on market rumour or speculation.”

Under chief executive officer Stuart Gulliver’s leadership, however, the bank has been trying to transform itself from an unwieldy, bureaucratic organisation into a leaner bank with a focus on profitability. In August, it said it would cut 30,000 jobs worldwide as part of the overhaul.

Since holding its strategy day in May, the bank has made it clear to investors...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222