The Big Bank With a $15 Billion Conundrum in China | EUROtoday
HSBC Holdings has a $15 billion headache in China—a giant stake in a neighborhood lender that it will possibly’t simply promote and that might require a giant write-down.
Long after most different Western banking giants have exited related positions, HSBC has held on to its roughly 19% place in Bank of Communicationsan funding that dates again to 2004. HSBC, Europe’s largest financial institution by market worth, has mentioned the stake is strategically vital for its ambitions to develop in Asia.
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