Subscribe & Follow
Advertise your job vacancies
Trending
Jobs
- COE Specialist- Business and Process Analyst Johannesburg
- Process Engineer Johannesburg
- Product Owner Johannesburg
- Software Quality Engineer Johannesburg
- Quality Assurance Lead Johannesburg
HSBC in talks to sell South African unit to FirstRand
HSBC Holdings is in talks to sell its South African corporate banking business to a unit of FirstRand.
Source: Reuters.
A deal with Rand Merchant Bank, the corporate and investment banking division of FirstRand, has not yet been finalised and there is no guarantee the transaction will close.
No financial details were disclosed.
HSBC and FirstRand declined to comment.
HSBC entered South Africa in 1995, and today serves mainly large companies operating on the continent.
According to an earlier Bloomberg report, African, Chinese and United Arab Emirates-based bidders are interested in HSBC's business in South Africa.
HSBC also has an equities business in South Africa that it plans to sell, Bloomberg added.
HSBC has in recent years slashed its businesses in Western markets such as the US, France and Canada to redirect its focus on Asia and markets where it has scale.
Source: Reuters
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/Related
Relief over Credit Suisse deal crumbles as focus shifts to bond risks
Stefania Spezzati 20 Mar 2023
Nedbank takes on the metaverse
20 Sep 2022
5 climate trends for 2021
Daniel Klier 9 Feb 2021
