HSBC Contemplating Sale of U.S. Consumer Banking Operations

HSBC Holdings (NYSE: HSBC) is reportedly considering a sale of its U.S. consumer unit, according to multiple media outlets.

The bank, which was founded in Hong Kong but is now based in London, is the largest bank in Europe by market capitalization and has close to $3 trillion in total assets.

Its U.S. banking franchise, with about $200 billion in assets, makes up less than 7% of the bank's total holdings. Citing an anonymous source, Bloomberg reported on Sunday that the bank is not expected to sell its entire U.S. operations.

Source Fool.com