HSBC Discusses Further LatAm Asset Sales

HSBC is in talks to sell its operations in Colombia, Peru, Uruguay and Paraguay, it says, as part of a continued process to shed non-core assets in the region. The bank has been scaling back in countries where its presence is too small or in those that offer too little growth potential. HSBC does not offer further details about the discussions. In January, HSBC sold operations in 3 Central American countries to Colombia’s Davivienda for $801m, before selling its insurance business in Mexico and Argentina to France’s AXA and Australia’s QBE Insurance Group in March as part of a $1.23bn package also including Asian assets.