According to reports, HSBC Holdings (00005) is evaluating its retail banking business outside of the United Kingdom and Hong Kong to further cut costs, and may scale back its operations in Mexico.
Informed sources indicate that HSBC is focusing on locations outside its core markets to reduce Consumer Business and concentrate on wealthier 'premier' clients.
Furthermore, given that HSBC's scale in Mexico is not competitive, the bank will explore significantly reducing its local retail operations but will not consider completely withdrawing from the market. Additionally, HSBC is assessing its presence in countries like Malaysia and Indonesia.
