The subcommittee of the government commission for the control of foreign investment in Russia received an application for the sale of a subsidiary of the international financial group HSBC. This was expressed by the Deputy Minister of Finance of the Russian Federation Alexei Moiseev, transmits TASS.
“The application has been received, but no decision has yet been made,” Moiseev said.
From the news published on the HSBC website on February 21, recognizedHSBC will complete the sale of its Russian subsidiary, HSBC Bank, in the first half of this year. The British bank estimated the loss from the sale of its Russian subsidiary at $300 million.
In July last year, Reuters reported that the UK’s largest bank of the same name had signed an agreement to sell 100% of its business in Russia to Expobank, citing a statement from a spokesperson for the HSBC financial group.
HSBC will become the second largest foreign banking group after the French Societe Generale, which left Russia for its special operation in Ukraine.