LONDON (Reuters) – HSBC has launched a strategic review of its Malta business, the British bank said in a stock exchange filing on the local bourse on Wednesday, in a process which often leads to the sale or disposal of the asset under review.
HSBC has an indirect stake of 70% in HSBC Bank Malta plc, the exchange filing said.
The review comes just days after new CEO Georges Elhedery took charge of the bank, and follows a slew of exits and asset sales by HSBC in Western markets where it lacks scale as it pivots its focus to Asia.
(Reporting by Lawrence White; editing by Jason Neely)
