HSBC withdraws from U.S. market and switches to a new strategy

15:39 - 27.05.2021

May 27, Fineko/abc.az. British bank HSBC Holdings Plc will stop serving individual customers and small businesses in the U.S.

ABC.AZ reports that the bank has sold some of its unprofitable services in the U.S. and will close another 35-40 branches.

The bank's departure from the U.S. is linked with shift of focus to Asia.

So, HSBC’s representatives stated that in February they will make changes to their strategy.