Information  X 
Enter a valid email address

HFC Bank Ld (82PR)

  Print      Mail a friend

Thursday 29 December, 2005

HFC Bank Ld

Transfer of Business

HFC Bank Limited
23 December 2005

                                HFC Bank Limited

On 20 December 2005 the transaction detailed in the attached form 8K was
completed as between HFC Bank Limited and HSBC Bank plc.

                                 UNITED STATES
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
    Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 23,2005

                            HSBC FINANCE CORPORATION

             (Exact name of registrant as specified in its charter)

Delaware                                           1-8198                              86-1052062
(State or other                           (Commission File Number)            (IRS Employer Identification
jurisdiction of incorporation)                                                    Number of Registrant)

2700 Sanders Road, Prospect Heights, Illinois                                              60070
 (Address of principal executive offices of registrant                                  (Zip Code)

Registrant's telephone number, including area code 847/564-5000

                             Not Applicable
         (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the 
following provisions (see General Instruction A.2.below):

( ) Written communications pursuant to Rule 425 under the Securities Act (17 CFR

( ) Solicitation material pursuant to Rule 14a-12 under the Exchange Act (17 CFR

( ) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))

( ) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c)

Item 8.01. Other Events.

On November 21,2005, the HSBC Finance Corporation Board of Directors approved
the sale of  the credit card business of HFC Bank Ltd. ('HFC UK') to HSBC Bank
plc. ('HSBC Bank'). As of September 30,2005, the balance of the receivables
outstanding in the HFC UK credit card business was approximately $3.2 billion.
Certain assets that support the credit card business, including the lease on a
call center and related employees, will also be assigned to HSBC Bank. Following
the sale, HFC UK will not originate credit card loans. The sale is expected to
occur prior to year-end. Evaluation of strategic alternatives continue with
respect to our other U.K. and European operations.

Item 9.01. Financial Statements and Exhibits

(a) Financial statements of businesses acquired.

Not applicable.

(b) Pro forma financial information.

Not applicable.

(c) Exhibits.

Not applicable.


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the 
undersigned hereunto duly authorized.



Name: Patrick D. Schwartz
Title: Vice President, Deputy General Counsel- Corporate
& Assistant Secretary

Dated: November 23, 2005

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                              

a d v e r t i s e m e n t