HSBC - U.K.'s HSBC said in advanced talks to sell Russian arm to Expobank - Bloomberg

• HSBC ( NYSE: HSBC ) was said to be in advanced talks to sell its Russian arm to Expobank amid the country's war in Ukraine, two people familiar with the matter told Bloomberg on Wednesday.
• Expobank, which has not been sanctioned, covers retail and corporate banking with offices in more than 50 Russian cities.
• As of June 2021, the lending unit had total assets of 89.9B rubles ($1.4B), Bloomberg noted.
• The potential move comes as a string of major banks around the globe exit Russia since its invasion of Ukraine. France's Societe Generale ( OTCPK:SCGLF ) ( OTCPK:SCGLY ), for example, exited Russia after it sold its stake in Rosbank to Interros Capital in April.
• Towards the end of March, HSBC pulled out references to Ukraine "war" from reports .

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