HSBC Holdings plc (HSBA.L, HBC) Monday reported an agreement which sees the sale of HSBC Bank Georgia JSC's legacy personal and mortgage loan book to Société Générale Group's (GLE.PA,SCGLY.PK) subsidiary Bank Republic JSC. The transaction may complete in December 2011.
The sale, which sees the divestment of gross assets worth $4.5 million as of December 23, 2011, follows HSBC's September 2011 announcement of its decision to "exit the Georgian banking market". Earlier, in May, the company had reported a "continuing five-filter portfolio review".
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.