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Business & Finance

HSBC to sell US credit card business to Capital One

HONG KONG : HSBC announced Wednesday that it is to sell its United States credit card and retail services business to
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By Parvez Jabri
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hsbcHONG KONG: HSBC announced Wednesday that it is to sell its United States credit card and retail services business to US lender Capital One Financial Corp in a deal that is expected to be finalised next year.

"HSBC is pleased to be working with Capital One on this transaction, given its strong commitment to maintaining relationships with HSBC's customers," the British-based lender's group chief executive Stuart Gulliver said in a statement.

 

Copyright AFP (Agence France-Presse), 2011

 

 

Copyright APP (Associated Press of Pakistan), 2011

 

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