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.
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)
