HSBC (NYSE: HSBC) Launches Strategic Review of Malta Business for Potential Sale

LONDON – HSBC Holdings (NYSE: HSBC) has launched a strategic review of its Malta business, the British bank said in a stock exchange filing on the local bourse on Wednesday, in a process that often leads to the sale or disposal of the asset under review.

The exchange filing said HSBC holds an indirect 70% stake in HSBC Bank Malta plc.

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The review comes just days after new CEO Georges Elhedery took charge of the bank, and follows a slew of exits and asset sales by HSBC in Western markets where it lacks scale as it pivots its focus to Asia.

(Source: ReutersReuters)

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