Today it was announced that HSBC has decided to sell part of their business in Russia. As reported by Kommersant, the daughter of a foreign bank refuses to retailers, while retaining the investment business. Recall that in Russia, a credit institution since 1996. Most bank specializing in investment banking products, but in 2007 he was licensed to work with the contributions, and in 2009 announced that launches retail division. Today in Moscow represented by four Department of HSBC, one more branch in St. Petersburg. It is worth noting that HSBC is not the first foreign bank, saying that minimizes the Russian retail business. Earlier, the English "Barclays Bank said that the sells retail and corporate business in Russia. According to Chairman of the Board Nicholas Tsekhomskaya in the plans of the credit institutions to focus on investment banking. Also from retailers refused and Spanish Santander. Foreign banks curtail business that did not have time to develop before the crisis, said a source.
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