The Big Bank With a $15 Billion Conundrum in China
Nov. 21, 2023 7:10 am ET
HSBC Holdings has a $15 billion headache in China—a giant stake in an area lender that it may’t simply promote and that might require a giant write-down.
Long after most different Western banking giants have exited related positions, HSBC has held on to its roughly 19% place in Bank of Communications, an funding that dates again to 2004. HSBC, Europe’s largest financial institution by market worth, has stated the stake is strategically essential for its ambitions to develop in Asia.
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