According to the news agency «Bloomberg» (article behind paywall), which cited sources familiar with the matter on Friday, the British financial conglomerate HSBC is considering selling several of its German business units.

BNP Paribas and UBS are among the potential buyers mentioned in the report. Julius Bär is also named as a possible buyer, although finews.ch considers this scenario unlikely.

HSBC is reportedly seeking a buyer with a global brand and an existing platform in Germany. The division manages assets totaling approximately €26 billion. KPMG is assisting HSBC with the sale, according to the report. The business could be valued between 300 million euro and 600 million euro in case of acquisition, as reported by «Bloomberg.»

Simultaneously, HSBC is reportedly working with Bank of America on the potential sale of its German fund management subsidiary Inka. With managed assets of approximately 400 billion euro, Inka is one of the largest in the industry.

Focus on Asia

In recent years, HSBC has withdrawn from several countries and business sectors, including North America and the French retail banking business. The bank aims to enhance focus on its core operations in Asia.