UPDATE 1-HSBC bank sells Armenian business to Ardshinbank CJSC
Published on: Tuesday 06 February 2024
HSBC has agreed to sell its Armenian operation to Ardshinbank CJSC as it continues to dispose of non-core businesses and tighten its global footprint, the British bank said on Tuesday. The deal reflects HSBC's ambition to redeploy capital from "less strategic businesses to higher-growth opportunities globally", Tuesday's statement said. A spokesperson for HSBC said terms of the deal, which is subject to regulatory approvals, would not be disclosed.
