HSBC offloads Argentina arm at a hefty loss
Boss Noel Quinn said the bank's business in the South American country has generated 'substantial earnings volatility' for the wider group.
Source: thisismoney.co.uk
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Ping An Trust delays payment due to property market downturn
Ping An Trust, a subsidiary of China's Ping An Insurance, said it has failed to repay a trust product on time due to the overall downturn in the property market. It delayed repayment of...
Source: marketscreener.com
HSBC to sell Argentina business to Grupo Financiero Galicia in $550 million deal
(Reuters) -HSBC Holdings said on Tuesday it will sell its Argentina business and record a $1 billion pre-tax loss from the divestment in the first quarter of fiscal 2024 as the lender moves to sharpen its focus on Asia. HSBC will sell the business, which covers banking, asset management and insurance and $100 million in subordinated debt, to Grupo Financiero Galicia for $550 million, according to a statement. Buenos Aires-based Galicia is Argentina's fifth largest bank.
Source: yahoo.com
Ping An Insurance of China : receives Low Risk ESG rating from Sustainalytics Still #1 in Mainland China's insurance sector -April 09, 2024 at 04:22 am EDT
Ping An Insurance Company of China, Ltd. has again received a Low Risk ESG Risk Rating from Sustainalytics, ranked first in Mainland China's insurance sector. With a risk rating score of 17,...
Source: marketscreener.com
HSBC to book $1B loss as it sells Argentina division
Global banking giant HSBC has agreed on the sale of its business in Argentina and is booking a $1 billion loss on the deal, the bank said Tuesday, as it...
Source: dailysabah.com