Latest News:  
Beijing   Sunny/Cloudy    2 / -4   City Forecast

People's Daily Online>>China Business

HSBC to sell private banking business in Japan for 2.7 bln USD


13:13, December 21, 2011

HONG KONG, Dec. 21 (Xinhua) -- Banking giant HSBC said Wednesday in a statement that the company and HSBC Securities ( Japan) Limited, wholly-owned subsidiaries of HSBC, have entered into an agreement to sell HSBC's private banking business in Japan to Credit Suisse AG and Credit Suisse Securities (Japan) Limited. The deal is worth about 2.7 billion U.S. dollars at Oct. 31, 2011.

The transaction, subject to regulatory approvals, is expected to complete during the second quarter of 2012 and represents further progress in the execution of HSBC's strategy outlined at the Investor Day in May 2011, according to HSBC's statement.

As the world's third largest economy, with significant trade flows with the rest of the world, Japan continues to be an important market for HSBC, it said.

HSBC, headquartered in London, serves customers worldwide from around 7,500 offices in over 80 countries and regions. With assets of 2.72 trillion U.S. dollars at Sept. 30, 2011, HSBC is one of the world's largest banking and financial services organizations.

We Recommend


Leave your comment0 comments

  1. Name


Selections for you

  1. Liyuan Garden in Wuxi

  2. APF emergency rescue team established

  3. Beautiful icefalls along Yellow River

  4. Japan picks F-35 as next-generation fighter

Most Popular


  1. To whom does Pacific Century belong?
  2. US media hypes 'cyber Cold War'
  3. Farmers find city life unfair: report
  4. Soccer bribe trials chance to clean up sport's legacy
  5. Euro zone makes progress in systemic reforms
  6. Weibo regulations a step on the right path
  7. Real names on Weibo points to progress
  8. China's foreign policy not a matter of tough vs. soft
  9. Growth moderation not "bad thing" for China
  10. Risks behind India's military buildup

What's happening in China

Talented farmers start own calligraphy business

  1. Baidu Inc expands into mobile Internet market
  2. Judicial decision to protect intellectual property
  3. Oil pipeline leak may take months to fix
  4. Ex-railway official's US home cost over 7m yuan
  5. New microblog rules confound companies

PD Online Data

  1. Legends of Mid-Autumn Festival
  2. Modern Mooncakes
  3. Regional Varieties of Mooncakes
  4. Traditional Mooncakes
  5. History of Mooncakes