HSBC to offload French retail banking business to My Money Group

HSBC to offload French retail banking business to My Money Group

HSBC Continental Europe (formerly HSBC France) will divest its French retail banking business to Cerberus Capital Management-controlled My Money Group for a nominal price of €1, leading to a pre-tax loss of around €1.9 billion. In this connection, the HSBC subsidiary has signed a memorandum of understanding (MOU) with Promontoria MMB SAS (My Money Group), […]