HSBC is considering Ending its Retail Banking Activities in the USA

HSBC is considering Ending its Retail Banking Activities in the USA According to the report compiled by the Financial Times, HSBC is considering ending its retail banking activities in the USA. HSBC Holdings Plc senior management will present a plan to the bank's board of directors in the coming weeks according to the report based on the sources by the Financial Times. Among the information in the news, the bank management may also propose to reduce investment banking activities in order to focus on international customers in Asia and the Middle East. The possibility of leaving the US market completely is no longer discussed. The final decision on retail banking has not yet been made. HSBC spokesperson declined to comment on the matter. The bank announced a large-scale restructuring plan at the beginning of 2020, with tensions growing in China and Hong Kong, which are very important to its profits. Within the scope of the announced plan, it was reported that 35 thousand people would be laid off in the next three years.