HSBC sells Central American businesses

International banking giant HSBC is to exit Costa Rica, El Salvador and Honduras.

The company has conditionally sold its operations in those countries to Banco Davivienda, a banking group listed in Colombia. Davivienda, Colombia's third largest bank, will pay $801m in cash for the bankng operations. The deal is epxected to complete in the fourth quarter of 2012.

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Shares in HSBC were down 7.1p, or 1.3%, in lunch-time trading at 537.8p, in a banking sector that was down 1.84% at the time.

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