HSBC exits loss-making US retail banking business as part of Asia pivot

HSBC exits loss-making US retail banking business as part of Asia pivot

People walk past a major branch of HSBC at the financial Central district in Hong Kong, China February 21, 2017. REUTERS/Bobby Yip

HSBC announced it is withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down others, a long-awaited move as the lender steps up a shift in focus to Asia, its biggest market.

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