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HSBC; Sale Of Russian Business - Tiny Buy Positive.

FINANCIALS

HSBC; Putin signs decree allowing Expobank to buy HSBC's Russian business (Reuters reports). HSBC reached agreement with the buyer in Jun-22 and took a USD300m loss on sale provision in 2023. Not material in size terms at all (loss is <0.2% of HSBC's equity) but sentiment positive.

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