TMM - News

HSBC to withdraw from wealth and retail banking in NZ

Wednesday 14th of June 2023

Head of communications Jonathan Williams says the amount of investment required, particularly in technology, was another factor behind the decision.

The retail side of the business has been “consistently profitable” and contributed $8.7 million, or 13.3% of pre-tax profit in calendar 2022, the NZ bank's last disclosure statement shows.

“It's not so much...

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