Reducing Activities: company scaling back some business operations while continuing others

Wait Scaling Back

HSBC Holdings plc is a British multinational investment bank and financial services holding company. It is the second largest bank in Europe.

 
 
 
 
 
 

Reducing Activities: company scaling back some business operations while continuing others

Wait Scaling Back
United Kingdom
Finance & Payments

Global 500, is an annual ranking of the top 500 corporations worldwide

Global 500
Income, mln.USD
33
Staff
200
Glob.Revenue, mln.USD
50480

Has a subsidiary bank in Russia.

The Company Statement
October 17, 2022

Continues to work. Breaks ties with sanctioned banks. HSBC agrees deal to sell Russian unit to Expobank. The South China Morning Post reported on Monday, October 17, 2022 that Hongkong and Shanghai Banking Corporation (HSBC) had sent a letter to most of its Russian clients in the city over the suspension of retail investment services because of sanctions enacted by the European Union. However, the suspension would not affect clients’ personal savings accounts or other personal banking needs, the report noted.

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Statements Archive
January 02, 2023BP, Unilever, and HSBC have failed to properly exit Russia after Ukraine war, new report warns
July 21, 2022HSBC agrees deal to sell Russian unit to Expobank
July 06, 2022HSBC Is in Talks to Sell Russian Unit to Expobank, Sources Say
May 12, 2022HSBC under pressure to follow rival banks and head for the exit
February 28, 2022HSBC orders staff to drop Russian banks VTB, VEB
Demand to Leave Russia:Petition text has been copied to the clipboard.
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