CNN —
HSBC has agreed to sell its business in Argentina to Grupo Financiero Galicia, the largest private financial group in the country, for $550 million, the UK-based bank said on Tuesday.
The move comes at a time when the bank is pushing harder into Asia, as part of a strategic overhaul HSBC unveiled in 2021, and has wound down businesses in other regions, including the United States and France.
The sale of the Argentina unit “is another important step in the execution of our strategy and enables us to focus our resources on higher value opportunities
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