Business & Finance

BAY delays signing deal for HSBC's Thai retail unit

Published Updated

The delay was mainly because the Thai bank, part-owned by General Electric, needed more time to prepare some documents, said the official, who declined to be named but is close to the deal.

The source did not give a value for the deal, but HSBC's retail business has a loan portfolio of about 30-40 billion baht ($942 million to $1.26 billion) and about 500,000 credit card customers.

Copyright Reuters, 2012