HSBC/Capital One

HSBC sells US businesses to Capital One

HSBC sells its US monoline credit card and private-label credit card business to Capital One for more than $30 billion, as group chief executive Gulliver delivers on his promise to streamline the bank and shore up capital.
<div style="text-align: left;"> HSBC is disposing of US assets valued at $30.4 billion (AFP) </div>
<div style="text-align: left;"> HSBC is disposing of US assets valued at $30.4 billion (AFP) </div>
August 11, 2011

HSBC yesterday struck a deal to sell its card and retail services business in the US to Capital One Financial for up to $33 billion.

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