Where did HSBC sell its US branches?

HSBC agreed Wednesday to sell 80 of its 148 U.S. branches to Providence, Rhode Island-based Citizens Bank, and 10 West Coast branches to Los Angeles-based Cathay Bank.

What happened to HSBC?

British bank HSBC Holdings PLC announced Wednesday that it will sell most of its retail locations across the U.S., reducing 148 branches down to 58 and winding down an additional 35 to 40 branches. The remaining locations will be repurposed into international wealth management centers.

Why did HSBC sell credit card accounts?

HSBC Bank USA, N.A. (HSBC) sold a portfolio of credit card accounts in the fourth quarter of 2021 as part of a strategic repositioning of its US retail operations to focus on the banking and wealth management needs of globally connected affluent and high net worth clients.

What landlords are doing about HSBC?

Here's what landlords are doing about it HSBC is winding down much of its US business to turn its attention to richer clients. The British bank announced Wednesday that it was closing most of its retail banking locations in the country, reducing its current footprint from 148 branches to about 25.