{"id":674154,"date":"2025-10-23T00:00:00","date_gmt":"2025-10-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/23\/hsbc-says-its-committed-to-corporate-and-institutional-clients-as-it-puts-its-retail-portfolio-here-in-strategic-review\/"},"modified":"2025-10-23T00:00:00","modified_gmt":"2025-10-23T00:00:00","slug":"hsbc-says-its-committed-to-corporate-and-institutional-clients-as-it-puts-its-retail-portfolio-here-in-strategic-review","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/23\/hsbc-says-its-committed-to-corporate-and-institutional-clients-as-it-puts-its-retail-portfolio-here-in-strategic-review\/","title":{"rendered":"HSBC says it\u2019s committed to corporate and institutional clients as it puts its retail portfolio here in \u201cstrategic review\u201d"},"content":{"rendered":"

Good afternoon, friends, we\u2019ve made it through another week together <\/strong>\u2014 and our reward is big news this afternoon to send you packing into the weekend:<\/p>\n

\n

THE BIG STORY TODAY-<\/p>\n

?HSBC Group is launching a \u201cstrategic review\u201d of its retail business <\/strong>here<\/strong>, the global bank said in a statement (pdf)<\/a> released this afternoon. HSBC Egypt\u2019s commercial and institutional banking units are not part of the review and remain core to its strategy here, it said. <\/p>\n

It\u2019s difficult to name a multinational (or large Egyptian corporation) that doesn\u2019t have a <\/strong>meaningful banking relationship with HSBC \u2014 and that doesn\u2019t look set to change.<\/strong> \u201cEgypt is an important market for HSBC and has strong potential for growth. HSBC will continue to focus on driving two-way trade and investment flows to support multinational clients operating in Egypt and enable domestic wholesale clients to achieve their international ambitions,\u201d the bank said in a statement.<\/p>\n

So is HSBC selling? <\/strong>Not necessarily. A review is just that: They\u2019re weighing options. \u201cThe HSBC Group review will cover HSBC Egypt\u2019s retail banking business only. It will consider all options for the retail banking business, and no decisions have been made,\u201d the bank said.<\/p>\n

BACKGROUND- <\/strong>HSBC Group is positioning the review as part of its \u201congoing simplification globally.\u201d It has been pulling back from retail around the world, opting to focus in most markets on corporate and institutional banking as well as its private banking or \u201cwealth\u201d business. That process got underway in mid-2023, when then-CFO Georges Elhedery put 12 countries on an \u201cexit watchlist\u201d<\/a> \u2014 and accelerated after Elhedery became CEO of the global bank in 2024<\/a> with a strategy to streamline and drive growth in core markets including Asia and the Middle East.<\/p>\n

The bank exited <\/strong>South Africa<\/a><\/strong> this year and is in the process of selling its retail arm in <\/strong>Australia<\/a><\/strong>.<\/strong> This follows its full exit from Canada in March 2024, which saw its operations sold to RBC. HSBC has also announced or concluded plans to fully exit or sell its retail operations in France, Argentina, Bahrain, and Bangladesh.<\/p>\n

HSBC isn\u2019t alone: <\/strong>Multinational banks are \u201cright-sizing\u201d their emerging market operations, shedding capital-intensive retail arms to double down on higher-margin institutional and wealth management businesses.<\/p>\n

HSBC by the numbers: <\/strong>The bank opened here in 1982 as the Hong Kong Egypt Bank and today has 4.2k staff and 53 branches. Egypt is also home to an HSBC \u201cglobal service center\u201d that provides support to HSBC operations globally. <\/p>\n

\n

THE BIG STORY ABROAD-<\/p>\n

? There\u2019s<\/strong> one story still leading the conversation in the global press this <\/strong>afternoon:<\/strong> The US sanctions on Russia\u2019s two biggest oil companies<\/a>. Last night, US President Donald Trump imposed Ukraine-related sanctions on Russia for the first time since taking office earlier this year, sanctioning the country\u2019s two biggest oil companies, Roseneft and Lukoil. The decision<\/a> follows the cancellation of a planned summit between the US and Russia, and a subsequent large-scale Russian aerial attack on Ukraine that killed at least six people and targeted both residential areas and energy infrastructure sites across the country. <\/p>\n

Market <\/strong>reax<\/strong>:<\/strong> Oil prices jumped USD 2 on the news, extending gains early Thursday and rising by more than USD 1 per barrel. Following the news, Indian refiners \u2014 the top importers of Russian oil \u2014 are reportedly reviewing oil trade contracts to ensure the omission of any oil supply from either US-sanctioned Russian companies, according to sources cited by Reuters<\/a>. <\/p>\n

Hours prior to the US sanctions<\/strong>, the EU had also approved a 19th package of sanctions on Russia, which includes a ban on Russian LNG exports effective 1 January 2027, Reuters<\/a> reports. The sanctions were met with gratitude from Ukrainian President Volodymyr Zelenskyy, who called for further pressure on Moscow, the Guardian<\/a> reports.<\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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\u2600\ufe0f <\/strong>TOMORROW\u2019S WEATHER- <\/strong>We\u2019re in for a warm start to the weekend in the capital, with temperatures set to peak at 34\u00b0C before cooling down to 22\u00b0C, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"

Good afternoon, friends, we\u2019ve made it through another week together \u2014 and our reward is big news this afternoon to send you packing into the weekend: THE BIG STORY TODAY- ?HSBC Group is launching a \u201cstrategic review\u201d of its retail business here, the global bank said in a statement (pdf) released this afternoon. HSBC Egypt\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":674155,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[633,490,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-674154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-hsbc","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"8f6a61c7-3efa-4a87-a8ec-184ff02b277e","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/2\/569.jpg","photo_position":"above","homepage_title":"","full_issue_title":"HSBC says it\u2019s committed to corporate and institutional clients as it puts its retail portfolio here in \u201cstrategic review\u201d","related_issue":[674152],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.4e160fd6-2a20-4aba-a556-6324387c7aba.mp3"},"yoast_head":"\nHSBC says it\u2019s committed to corporate and institutional clients as it puts its retail portfolio here in \u201cstrategic review\u201d - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/23\/hsbc-says-its-committed-to-corporate-and-institutional-clients-as-it-puts-its-retail-portfolio-here-in-strategic-review\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HSBC says it\u2019s committed to corporate and institutional clients as it puts its retail portfolio here in \u201cstrategic review\u201d\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, friends, we\u2019ve made it through another week together \u2014 and our reward is big news this afternoon to send you packing into the weekend: THE BIG STORY TODAY- ?HSBC Group is launching a \u201cstrategic review\u201d of its retail business here, the global bank said in a statement (pdf) released this afternoon. 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market in which we are squarely focused on the needs of our corporate and investment banking clients,\u201d HSBC Egypt CEO Todd Wilcox told EnterpriseAM","rel":"","context":"In "Banking"","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1303.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":685966,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/25\/cib-says-it-received-the-green-light-to-start-due-diligence-on-hsbc-egypts-retail-franchise\/","url_meta":{"origin":674154,"position":2},"title":"CIB says it received the green light to start due diligence on HSBC Egypt\u2019s retail franchise","author":"enterpriseam admin","date":"25 February 2026","format":false,"excerpt":"CIB is not the only potential suitor for HSBC\u2019s retail business in Egypt if the latter decides to sell, with three other major players also said to be interested","rel":"","context":"In "Banking"","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/1\/437.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":674353,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/28\/state-ownership-policy-2-0\/","url_meta":{"origin":674154,"position":3},"title":"State Ownership Policy 2.0?","author":"enterpriseam admin","date":"28 October 2025","format":false,"excerpt":"Good morning, friends and a happy Tuesday to you all. It\u2019s another busy morning here in Egypt, with debt and energy news leading the news well \u2014 our maiden EGP sukuk issuance got pushed back again and QatarEnergy snapped up 40% of the Med\u2019s North Rafah offshore gas concession. BEFORE\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1644.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":686677,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/25\/egypt-eyes-return-to-eur-denominated-bond-market-after-eight-year-hiatus\/","url_meta":{"origin":674154,"position":4},"title":"Egypt eyes return to EUR-denominated bond market after eight-year hiatus","author":"enterpriseam admin","date":"25 February 2026","format":false,"excerpt":"Good afternoon, friends, and happy almost-weekend. It\u2019s another slow day in the press, and we\u2019ve got the rundown for you below. Also in today\u2019s issue: we explore Egypt\u2019s domestic footwear sector and recommend your next read. So, when do we eat? Maghrib prayers are at 5:51pm in the capital, and\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/11\/1565.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582693,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/13\/this-evening-hassan-allam-utilities-agility-are-launching-green-logistics-parks-hsbc-scoops-up-uk-arm-of-silicon-valley-bank\/","url_meta":{"origin":674154,"position":5},"title":"THIS EVENING: Hassan Allam Utilities, Agility are launching green logistics parks + HSBC scoops up UK arm of Silicon Valley Bank","author":"enterpriseam admin","date":"13 March 2023","format":false,"excerpt":"Good afternoon, friends. It\u2019s shaping up to be a relatively brisk Monday, both at home and abroad. 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