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Global banking giant HSBC said Tuesday that it has sold some of its British credit card businesses to lender SAV Credit for about 385 million pounds (552 million euros, 796 million dollars). HSBC said in a statement that the units being sold are the Marbles and Beneficial divisions, which have about 338,000 accounts between them.
The bank added that the disposals would leave it free to concentrate on its flagship HSBC and First Direct credit card brands. Analysts in the United States ask if Beneficial and HFC brands are for sale in North America. Others see cutbacks in the division formerly called Household International.
This article, HSBC sells Marbles and Beneficial divisions, is just one of our articles from our Bank Horror Stories, HSBC Secrets Part 3
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