HSBC plans sale of French retail banking business - WSJ

Credit: REUTERS/Brendan McDermid

HSBC is planning to exit its French retail banking business under interim chief executive Noel Quinn, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

Sept 11 (Reuters) - HSBC HSBA.L is planning to exit its French retail banking business under interim chief executive Noel Quinn, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The likeliest buyer for the unit would be a French bank looking to add market share, the WSJ reported, adding that the likely price for the business was not clear.

British bank HSBC would continue to offer wholesale banking operations in France, the WSJ added.

A spokeswoman for HSBC in Paris declined to comment, when asked by Reuters for the bank's response to the WSJ report.

(Reporting by Shanima A in Bengaluru; Editing by Alexander Smith)

((shanima.a.thomsonreuters.com@reuters.net; +91 80 6749 3167; shanima.a@thomsonreuters.com))

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