HSBC finds buyer for 62 Latin American branches

HSBC, which styles itself as the world's local bank, is to become a bit less local in parts of Latin America following the agreed sale of its operations in Colombia, Peru, Uruguay and Paraguay.

HSBC, which styles itself as the world's local bank, is to become a bit less local in parts of Latin America following the agreed sale of its operations in Colombia, Peru, Uruguay and Paraguay.

HSBC is selling the businesses for $400m in cash to the Colombian banking entity controlled by the Gilinski Group, Banco GNB Sudameri.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.