HSBC Bank, a wholly-owned subsidiary of HSBC Holdings, has announced it will exit its operations in Slovakia.
The banking giant said the decision is a direct result of the continuing five-filter portfolio review announced last year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Brian Robertson, Chief Executive HSBC Bank, said: "We continue to make progress in sharpening our capital discipline, by refocusing our European operations on businesses where we can deliver sustainable profits and growth."
The share price rose 1.41% to 568.90p.
NR
-
How to pay in a chequeReceiving or writing a cheque has become much less common in recent years as instant bank transfers have grown in popularity. Amid widespread bank branch closures, we explain what to do if you get a cheque, and how you can pay one into your bank account.
-
Crypto assets of seven million UK investors at risk – how to keep yours safeCryptocurrency wallet rules make it hard to track down assets after someone has died, even if they leave a will saying who they would like to inherit them
-
HSBC looks like a cheap way to invest in Asia – should you buy?Tips HSBC has refocused its business towards Asia, and China in particular. If it can increase earnings, the bank looks cheap, says Rupert Hargreaves. So should you buy HSBC shares?
-
When to buy shares in NatWest, Britain's worst bankTips Rising interest rates should lift profits for the banking sector if inflation doesn’t get out of control, says Bruce Packard.
-
How UK banks went from Big Bang to universal failureCover Story The 1986 deregulation shook up the banks, but the all-in-one model that it created is bad for customers and investors. Specialists do a better job – as the real fintech winners are showing, says Bruce Packard
-
HSBC’s profits surge – but will the share price?News Pre-tax profits at banking giant HSBC rose from $1.1bn last year to $5.1bn in 2021, but the share price remains depressed.
-
Lloyds poaches its new boss from HSBCNews The high-street lender has appointed Charlie Nunn, HSBC’s head of wealth management, to be its new CEO. He faces a towering in-tray. Matthew Partridge reports
-
HSBC finds itself in eye of the stormNews HSBC, the global banking giant, is the worst hit of the high-street banks in Britain and is facing trouble elsewhere too. Matthew Partridge reports
-
Three stocks to buy with future income in mindOpinion Professional investor Ben Ritchie picks three robust stocks that should generate a sustainable and growing dividend for future income.
-
HSBC to offload US insurance manufacturing unit
News Global banking group HSBC is to sell off the insurance manufacturing business of a US subsidiary to Enstar Group.
