HSBC Rules Out Asia Business Spin-Off, Eyes Sale of German Units

HSBC is currently exploring the sale of its wealth-management, custody, and fund administration units in Germany. Concurrently, the bank's chairman has definitively stated that a spin-off of its Asia business 'will not happen.' This announcement was echoed across multiple news outlets, underscoring its significance. Additionally, during an investor meeting in Hong Kong, HSBC's senior executives reassured shareholders about the bank's commitment to paying dividends, emphasizing its strategic focus despite the potential divestitures.