HSBC nursing $1bn loss as it sells troubled Argentinian arm
Evening Standard|April 09, 2024
HSBC moved to conclude another Latin American misadventure today when it sold its troubled Argentinian arm for $550 million (£435 million), leaving the bank nursing a loss of $1 billion.
Simon English
HSBC nursing $1bn loss as it sells troubled Argentinian arm

The sale to Grupo Financiero Galicia will also lead to nearly $5 billion of currency losses due to the weakness of the Argentine peso.

This sale follows a far greater disaster in Mexico more than 10 years ago, when HSBC was found guilty of money laundering for Mexican cocaine gangs, moving $7 billion out of Mexico and into the US. The group paid a fine of $1.9 billion for what has been dubbed the greatest bank scandal of all time, amid tough competition for that title. Gary

この記事は Evening Standard の April 09, 2024 版に掲載されています。

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この記事は Evening Standard の April 09, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

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