Will HSBC Exit the Mexico Banking Market

HSBC Holdings Plc is among global lenders facing pressure to exit underperforming businesses in emerging markets nations from Brazil and Mexico to South Korea, creating opportunities for local banks to assert control of their home turf, analysts at UBS Securities said on Monday.

Besides HSBC, global banks such as Citigroup Inc and Standard Chartered Bank Plc have expressed interest in exiting units chiefly viewed as substandard and underperforming businesses, UBS strategist Philip Finch said in a client note.

In the case of HSBC, Chief Executive Officer Stuart Gulliver is facing pressure to reshape the business focus of Europe's largest . . .

This independent news site is supported by subscribers.

Trending News on PVDN

Notorious Criminal Edgar Salvador Casian-García Extradited to the US After Arrest in Puerto Vallarta PUERTO VALLARTA - The Mexican Attorney General's Office (FGR) recently disclosed the extradition of Edgar Salvador Casian-García to the United States, marking a significant capture of one of America's most wanted individuals after his arrest in Puerto Vallarta. Casian-García faces grave charges, including homicide, rape, and causing bodily harm. The extradition follows a horrific tale…
Tourists Discover Body of Woman in Waters Off Puerto Vallarta, You Won’t Believe What Happened Next In a heart-pounding incident on the waters off the coast of Puerto Vallarta, Mexico, horrified tourists witnessed a lifeless body floating amidst the relentless waves. The spine-chilling ordeal began when Nicole, a German native residing in Mexico, decided to indulge in an evening dip on Monday. Unknown to her, the perilous currents had other plans…
Health Officials Underscore Ongoing Threat of Dengue in Puerto Vallarta PUERTO VALLARTA - In a renewed call to remain vigilant against Dengue, health officials reassert their unyielding dedication to battling the vectors that contribute to the proliferation of this disease. Despite four confirmed cases in Puerto Vallarta, the risk lingers, primarily due to the persistent breeding sites for the Aedes Aegypti mosquito, the primary vector…
Cartels are the Fifth Largest Employer in Mexico with 175,000 ‘Employees’ PUERTO VALLARTA (PVDN) - In a groundbreaking study unveiled this Thursday in the esteemed journal Science, researchers from the Complexity Science Hub in Vienna disclosed that drug trafficking ranks as the fifth largest employer in Mexico, engaging between 160,000 and 185,000 individuals. The study also revealed that thwarting new recruitment is crucial to diminishing the…
Puerto Vallarta Achieves Six Blue Flag Distinctions for 2023-2024 Season PUERTO VALLARTA - In a notable step toward environmental preservation, Puerto Vallarta, the picturesque beach city on the Mexican Pacific coast, proudly announces securing six Blue Flag Distinctions for the 2023-2024 season, reinforcing the region's commitment to the sustainable management of its beaches. The Blue Flag Distinction is a sought-after accolade that denotes a beach's…
Health Officials in Puerto Vallarta Urge Return to Face Mask Usage as Covid-19 Cases Rise in Region PUERTO VALLARTA (PVDN) - Health officials are ringing the alarm bells as an uptick in COVID-19 cases has been recorded in the Eighth Health Region, where Puerto Vallarta is located. In response to the growing concern, the director of the VIII Health Region has recommended reinstating face mask usage in closed environments. He also emphasized…
Early High Season Anticipated for Puerto Vallarta Tourism PUERTO VALLARTA (PVDN) - Local hoteliers are bracing for a robust end-of-year surge in tourist arrivals, a welcome boost following a challenging summer season. Álvaro Garci-arce Monraz, the president of Puerto Vallarta's Hotel and Motel Association, shared an optimistic outlook for the coming months. "We faced a challenging summer, deviating from our expectations. However, while…
Puerto Vallarta Among Top Hotel Occupancy in Mexico, DataTur Reports PUERTO VALLARTA (PVDN) - DataTur figures reveal that Puerto Vallarta clinched the sixth spot nationwide for hotel occupancy from January to July. According to the Federal Ministry of Tourism (Sectur), there was a reported arrival of 50.4 million tourists in hotel rooms in this period. Notably, national tourists dominated the statistics, with 36.9 million, or…
International Beach Cleanup Day Witnesses Massive Turnout in Puerto Vallarta PUERTO VALLARTA (PVDN) - Monday saw beaches in Puerto Vallarta thronged not just by sun-seekers but also by scores of volunteers. Marking International Beach Cleanup Day, dozens from various walks of life – including municipal agencies, businesses, educational institutions, and even tourists – heeded the municipal government's call to arms. Under the stewardship of Professor…
Puerto Vallarta Observes National Civil Protection Day With Earthquake Drills PUERTO VALLARTA (PVDN) – As part of the National Civil Protection Day on September 19, the second national drill of the year was conducted with two different earthquake scenarios. The exercise included a 7.2-magnitude earthquake with a hypocenter northeast of Chapala and an 8.0-magnitude earthquake with an epicenter in Acapulco. The regional command of the…