HSBC ends operations in Slovakia

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.

HSBC Bank Slovakia will no longer take on new business but will continue to provide full banking services to existing clients in line with contractual obligations until closure, expected to be by the end of the third quarter of this year.

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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