HSBC Holdings plc (HSBC) has released an update.
HSBC Holdings plc has successfully completed the sale of its Canadian arm, HSBC Bank Canada, to Royal Bank of Canada (RBC) as of March 28, 2024. The strategic decision to sell was made following a review and is expected to bring significant value to HSBC, including a special dividend to shareholders of $0.21 per share. The sale is anticipated to result in a $4.9 billion gain for HSBC in the first quarter of 2024, positively impacting the HSBC Group’s capital position.
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