HSBC To Divest Its Losango Unit
On Thursday, Financial Times reported that HSBC Holdings Plc (NYSE:HBC) is planning to sell its Losango consumer finance unit in Brazil, in yet another attempt to shed its non-core assets and improve efficiency. Presently, HSBC’s Losango unit has nearly 20 million clients and controls about 20% of the market share in Brazil’s consumer loan segment. [...]
On Thursday, Financial Times reported that HSBC Holdings Plc (NYSE:HBC) is planning to sell its Losango consumer finance unit in Brazil, in yet another attempt to shed its non-core assets and improve efficiency.
Presently, HSBC’s Losango unit has nearly 20 million clients and controls about 20% of the market share in Brazil’s consumer loan segment. Hence, some of the local banks interested in acquiring the HSBC unit include Banco Bradesco S.A. (NYSE:BBD), Itau Unibanco Holding S.A. (ITUB) and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards