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Message: <blockquote data-quote="topkollek" data-source="post: 30980814" data-attributes="member: 510150"><p>HSBC is planning to exit its retail banking operations in Sri Lanka as part of a broader global restructuring strategy aimed at simplifying its business structure, reducing costs, and redirecting resources toward high-growth, high-return markets. The bank has identified certain retail operations, including those in Sri Lanka, as non-strategic and low-return, and is conducting targeted reviews in countries like Australia, Indonesia, and Sri Lanka to wind them down. This move is expected to help HSBC cut around $1.5 billion in costs from such businesses over the 2025–2027 period, with corporate and institutional banking services in these markets remaining unaffected. The phased exit is set to begin in the second half of 2025, though no specific timeline or details on potential buyers for Sri Lanka operations have been announced. It's unclear if this will extend to HSBC's significant credit card business in the country. This aligns with similar divestments by other global banks, such as Standard Chartered, in Sri Lanka's retail sector.</p></blockquote><p></p>

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