HSBC is to scale back its Asian operations with the potential sale or closure of seven retail businesses in -countries from Pakistan to New Zealand.
The bank has already sold or closed its retail banking operations in Japan and Thailand and sold its Asian insurance businesses as part of a broader strategic overhaul under Stuart -Gulliver, chief executive.
Peter Wong, chief executive of HSBC in Asia, said the bank had decided to focus on the six core Asian markets outside Hong Kong that are producing the fastest profits growth, as well as two strategic markets that the bank thinks will be important for the future.
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