The lender has been seeking to head off a call by its largest shareholder to split up. Read more.
A potential sale of HSBC’s 100 per cent equity stake in HSBC Bank Canada is among the options being explored, the lender said in a statement. The review is at an early stage and no decisions have been made, the bank said.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
A disposal of the Canadian unit could reap nearly US$10 billion, according to Bloomberg Intelligence. HSBC’s shares rose on the news and were up 3.4 per cent as of 10:50 a.m. in London.Article contentThe British lender has had operations in Canada since 1981, according to its website. HSBC Bank Canada is the seventh largest bank overall in the country and operates more than 130 branches across the country.
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