HSBC mulls sale of South Africa business, Bloomberg News reports

HSBC Holdings (HSBA.L), opens new tab is currently exploring a sale of its South Africa businesses, Bloomberg News reported on Tuesday, as the once globe-spanning company continues to move its focus towards Asia.

The lender’s business in the country operates as a branch of its British unit and offers commercial and investment banking services, with no personal or retail banking, according to its website.

A spokesperson for HSBC declined to comment, citing a company policy not to comment on market speculation.

Source: REUTER