HSBC sells US auto finance units to Santander
HSBC has completed its withdrawal from the U.S. auto finance market, selling its remaining businesses to Santander for about $3.56 bn
By Agencies |
LONDON: The British bank HSBC has completed its withdrawal from the U.S. auto finance market, selling its remaining businesses to Spanish bank Santander for about $3.56 billion.
HSBC said on Tuesday that on top of the cash payment, Santander is assuming $431 million in debt.
HSBC says the loan book was valued at $4.3 billion.
HSBC said on Tuesday that on top of the cash payment, Santander is assuming $431 million in debt.
HSBC says the loan book was valued at $4.3 billion.
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