HSBC Private Banking will retain its Monaco business after reviewing interest to acquire its operations, the London-based bank said in a statement.
The global bank underlined it is committed to Global Private Banking as one of its four global businesses and will continue to invest in the growth of the business,.
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On 14 May 2013 the bank announced it was selling part of its private bank operations planning to a "reclassification of non-strategic business" in global private banking.
Further to this, HSBC revealed it was reviewing its private banking operations in Monaco following receipt of "unsolicited expressions of interest" in acquiring that business.
Since 2011, the bank has exited 52 businesses globally.
