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FT: HSBC Considers Exit From Retail Banking In The U.S.

HSBC Holdings Plc (HSBC,HSBA.L) is considering a complete exit from retail banking in the United States after narrowing the options for how to improve performance at its North America business, the Financial Times reported, citing people familiar with the situation.

The bank's senior management aim to present the plan to the board in the coming weeks, the report said.

HSBC declined to comment on the report.

A full exit from the US is no longer on the table,the report noted. Managers are likely to also recommend trimming HSBC's investment bank client roster to focus on international clients, particularly those with Asian and Middle Eastern links, the people said.

HSBC said last month it planned to beat its Group cost target of =$31 billion in 2022.

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