HSBC has agreed to sell its business in Argentina to Grupo Financiero Galicia — the largest private financial group in the country — for $550 million, the UK-based bank said Tuesday.

HSBC moved to conclude another South American misadventure today when it sold its troubled Argentinian arm for $550 million, leaving a loss of $1 billion. The sale to Grupo Financiero Galicia will ...

Banking giant HSBC is selling off ... denominated book value of HSBC Argentina into US dollars," HSBC said. In 2023 alone, these losses grew by $1.8bn, the bank added. The exact losses may well ...