On Tuesday, global banking giant HSBC announced its agreement to sell its Argentina division to Grupo Financiero Galicia, a financial services company, for $550 million. This move aligns with HSBC’s strategic focus on its core operations in Asia.
Chief executive Noel Quinn emphasized the significance of the transaction, stating that it represents another step in executing their strategy. He highlighted how the sale enables HSBC to concentrate its resources on pursuing higher value opportunities within its international network.
