The group is currently carrying out targeted strategic reviews of its retail businesses in Indonesia, Australia and Egypt, in addition to its insurance business in Singapore (HSBC Life Singapore), but no decisions — including on whether to sell — have been made.
HSBC Holdings plc’s possible sale of its Indonesian retail assets, following its exit from retail operations in Bangladesh and Sri Lanka last year, has fuelled speculation that the UK-based banking giant may be planning a broader retreat from retail banking in Asia.
Last year, it closed its retail operations in Bangladesh and sold its retail banking businesses in Sri Lanka and Bahrain, as part of a wider restructuring of its global businesses.
