HSBC to Exit South African Market with Sale of Unit to FirstRand
3 months ago
In one of the most significant strategic shifts, HSBC Holdings Plc announced it would sell its South African unit to FirstRand Ltd. This indeed has marked the bank's exit from the South African market. The sale is in line with the broader strategy of HSBC to focus on growth markets while divesting from regions the bank deems non-essential for its operations.
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