HSBC Continental Europe has branches in Belgium, Czech Republic, Greece, Ireland, Italy, Luxembourg, Netherlands, Poland, Spain and Sweden
Hongkong Shanghai Banking Limited at Beach Street in Penang. (Credit: Wolfgang Holzem/Wikipedia)
HSBC Continental Europe (‘HBCE’), an indirect subsidiary of HSBC Holdings plc, announces that it has reached an in-principle agreement to sell its branch operations in Greece (‘HSBC Continental Europe, Greece’) to Pancreta Bank SA subject to HBCE’s information and consultation process with its unions and works councils. Completion of the potential transaction would be subject to regulatory approval.
All staff members employed by HSBC Continental Europe, Greece at completion of the potential transaction would transfer to Pancreta Bank SA as part of the sale.
The potential transaction would be expected to complete in the first half of 2023.
Source: Company Press Release