HSBC announces intention to exit Slovakia

RNS Number : 1668A

HSBC Holdings PLC

27 March 2012

 



27 March 2012

HSBC ANNOUNCES INTENTION TO EXIT SLOVAKIA

HSBC Bank plc, a wholly-owned subsidiary of HSBC Holdings plc, announces that following a strategic review it will exit its operations in Slovakia. The decision is a direct result of the continuing five-filter portfolio review, as announced at the HSBC Investor Day in May 2011.

HSBC Bank plc, Slovakia will cease to undertake new business with immediate effect. It will, however, continue to provide full banking services to existing clients in line with contractual obligations until closure and work closely with them to minimise disruption. Full closure of operations in Slovakia is expected to be complete by the end of the third quarter 2012.

Brian Robertson, Chief Executive HSBC Bank plc, said: "We continue to make progress in sharpening our capital discipline, by refocusing our European operations on businesses where we can deliver sustainable profits and growth."

Media enquiries to Brendan McNamara on [phone] or at [e-mail]

Note to editors:

HSBC Holdings plc

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,200 offices in over 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, the Middle East and Africa. With assets of US$2,556bn at 31 December 2011, HSBC is one of the world's largest banking and financial services organisations.

 

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