HSBC offloads non-core Indan assets
HSBC, Britain's biggest bank, has sold two non-core assets in India.
HSBC, Britain's biggest bank, has sold two non-core assets in India.
The sales of small stakes in Axis Bank and Yes Bank have raised $425m.
HSBC is a major player in India with around 30,000 employees and interests in orthodox banking, investment banking and capital markets.
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
At 11:37 the stock was down 2.3%, possibly having caught the backdraft from news that Barclays bank manipulated the key London Interbank Offer Rate (LIBOR).
BS
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Rightmove: UK asking price growth slows ahead of stamp duty changes
Sellers are adjusting prices as it is now too late for buyers to beat the stamp duty deadline
By Marc Shoffman Published
-
Why Chinese stocks are so far out of favour
There’s little appetite for Chinese stocks despite low valuations.
By MoneyWeek Published