2024-01-05 09:16:05
HSBC, the British bank that is the largest European bank by assets, has completed the sale of the retail banking business in France of HSBC Continental Europe to CCF, a subsidiary of My Money Group, after obtaining all necessary regulatory approvals.
“This represents an important milestone in our strategic vision for Europe,” said Noel Quinn, group CEO.
“I am delighted with this positive start to 2024: our team in Europe will continue with the aim of becoming the leading international wholesale bank in Europe, complemented by a dedicated banking business. private banking and heritage,” he added.
For its part, the buyer has indicated that the acquisition scope also includes HSBC SFH, renamed CCF SFH, adding that after the closing of the transaction My Money Group will be renamed CCF Group.
In this sense, it has announced that the entire CCF network, as well as the online bank, will be open to the public from this Tuesday.
“The group will have total assets greater than 30,000 million euros and a solid solvency position with a CET1 ratio greater than 15% at closing,” the entity added, adding that it has a significant liquidity position of around 10,000 million. of euros in cash.
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