The international financial group HSBC is negotiating the sale of its Russian division to Expobank.

HSBC and Expobank are ‘well advanced’ in talks to sell Russian unit

It is reported by Bloomberg, citing two "informed sources", who affirm that the parties are "very advanced" in the discussion of the agreement.

According to the Forbes rating, HSBC was one of the most reliable banks in our country. The lender stopped retail operations in 2011, but has so far worked with corporate clients.

As of 2021, the assets of the Russian division amounted to more than 89 billion rubles. And in February 2022, as reported by Reuters, HSBC began to actively reduce operations with some domestic banks (including VTB and VEB.RF).

Expobank is not the first financial institution to leave the Russian Federation: along with Reso-Garantia and Rosbank, Russian businessman Igor Kim's bank has been scrutinizing Citigroup's assets.


Ekaterina Alipova

Source: RB

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I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.


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