Hungarian Consumer Fin Business sale to complete

RNS Number : 8586I

HSBC Holdings PLC

31 July 2012

 



31 July 2012

HSBC COMPLETES SALE OF HUNGARIAN CONSUMER FINANCE BUSINESS

HSBC Europe (Netherlands B.V.), a wholly-owned subsidiary of HSBC Holdings plc, has sold its 100% interest in its Hungarian subsidiary, HSBC Credit Zrt, to Central-Fund Kockázati Tőkealap. HSBC Credit Zrt had gross assets of US$5.28m at 30 June 2012.

In October 2011 94% of HSBC Credit Zrt's consumer finance portfolio was sold to Cofidis.

The transaction has received regulatory approval and is expected to complete on 6 August 2012.

Media enquiries to Brendan McNamara on [phone] or at [e-mail]

Note to editors:

HSBC Holdings plc

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 6,900 offices in over 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, and the Middle East and North Africa. With assets of US$2,652bn at 30 June 2012, the HSBC Group is one of the world's largest banking and financial services organisations.

 

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