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4/10/2012 2:16 AM ET

HSBC Holdings Plc (HBC: Quote,HSBA.L) said its wholly-owned subsidiary Hongkong and Shanghai Banking Corp. Ltd., or HSBC, confirmed that it is in talks concerning a possible sale of its Retail Banking and Wealth Management business in Korea to Korea Development Bank, a member of the KDB Financial Group.

HSBC Holdings noted that discussions are ongoing and may or may not lead to a transaction.

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