Tuesday, 9 August 2011

HSBC Sells US Card Unit to Capital One for $2.6 Billion

HSBC has agreed to sell its U.S. credit card and retail services unit to Capital One for a premium of about $2.6 billion, as Europe's top bank streamlines its mammoth operations by shedding non-core businesses. The sale of the arm, which had gross assets of $30.4 billion at the end of June, is part ...


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