HSBC Holdings plc (LSE:HSBA) is reviewing its retail banking business in New Zealand with a view to selling it, a spokesperson said on November 30, 2022, in what would be the latest in a string of asset sales in recent years as the bank tries to improve returns. "Like many organizations, HSBC regularly engages in business reviews to optimize their network operations for the long term," the spokesperson said. The bank's wholesale banking business in New Zealand will not be impacted by the review, she added.
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