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HSBC AGREES TO SELL ITS BUSINESS IN JORDAN
London, U.K. – 20 January, 2014 - HSBC Bank Middle East Limited, an indirect wholly-owned subsidiary of HSBC Holdings plc (Ticker: HSBC.BH), has entered into an agreement to sell its banking business in Jordan (the ‘Business’) to Arab Jordan Investment Bank plc (‘AJIB’). All employees in the Business, with a very small number of exceptions, are expected to transfer to AJIB as part of the sale. At 30 September 2013, the Business comprised four branches with gross assets of approximately USD$1,203m.
The transaction is subject to customary closing conditions and is expected to complete during the first half of 2014. It represents further progress in the execution of HSBC Group strategy.
Media enquiries to:
Ahmad Othman
Tel: + 971 4 423 5628 ahmadothman@hsbc.com
Saadia McGlinchey
Tel: + 971 4 423 5237 saadia.mcglinchey@hsbc.com
Brendan McNamara
Tel: + 44 20 7991 0655 brendan.mcnamara@hsbc.com
Investor Relations enquiries to:
Alexander MacDonald-Vitale
Tel: + 971 5 668 25047 alex.macdonaldvitale@hsbc.com
Guy Lewis
Tel: + 44 20 7992 1938 guylewis@hsbc.com
Note to editors:
HSBC Holdings plc