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
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