Friday 19 September 2008

HSBC Cuts Back on Foreign Expansion

HSBC the large UK bank has stopped two foreign investments. Whilst not one of the banks under attack this week, HSBC is obviously feeling the pinch.

The first is the disposal of 18.68 of Mexican microfinance company Financiera Independencia. Secondly it is not pursuing its purchase of 51% of the Korean Exchange Bank.

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