HSBC quits Canada, selling its business to RBC for £8.4bn
by Kalyeena Makortoff Banking correspondent from World news | The Guardian on (#66A8E)
London-headquartered bank has been struggling to navigate political pressure from both Beijing and the west
HSBC has struck a deal to sell its Canadian business to Royal Bank of Canada for 8.4bn as it continues to shrink its global footprint and focus on the Chinese market.
HSBC, which once advertised itself as the world's international bank", has been struggling to navigate political pressures from both the west and Beijing following China's crackdown in Hong Kong.
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