HSBC Sells Argentina Operations for $550M Amid Focus on Higher-Growth Markets

KEY TAKEAWAYSHSBC is selling its Argentina business to Grupo Financiero Galicia for $550 million.The sale will result in a $1 billion loss for HSBC in the first quarter of 2024.The deal follows several others as HSBC focuses on higher-growth markets like Asia.  HSBC Holdings (HSBC) will sell its banking operations in Argentina to Grupo Financiero Galicia for $550 million, with the divestment resulting a $1 billion first-quarter loss, the bank said Tuesday. Grupo Financiero Galicia will acquire all of HSBC's ...