HSBC selling United States consumer and homeowner loans for US$3.2 billion cash


NEW YORK — HSBC, Europe’s largest bank, is selling two portfolios containing U.S. consumer and homeowner loans for about US$3.2 billion in cash as it looks to minimize its exposure in the country.

HSBC has been selling assets as part of its plan to improve profitability and shore up capital. Last year it completed the sale of its U.S. card business to Capital One for US$2.6 billion.