HSBC to Shut Retail Operation in Bangladesh Amid Simplification Push

Key Takeaways HSBC will begin winding down retail banking in Bangladesh in H2 2025, halting new client onboarding now.The move follows a strategic review of retail banking in Bangladesh, Australia, Indonesia, and Sri Lanka.HSBC targets $1.5B in annual savings by 2026 through global exits and strategic cost redeployment.HSBC Holdings Plc (HSBC) plans to begin a phased wind-down of its International Wealth and Premier Banking (Retail Banking) in Bangladesh starting in the second half of 2025, as part of its o ...