lloyds to sell uae operation to hsbc
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Lloyds to sell UAE operation to HSBC

Arab Today, arab today

Arab Today, arab today Lloyds to sell UAE operation to HSBC

London - Arabstoday

Uk-based lender Lloyds Banking Group it to sell its onshore presence in the UAE to HSBC. The sale, for an undisclosed sum, includes Lloyds’ retail, commercial and corporate banking businesses, which operate out of a single location in Dubai. Lloyds’ onshore operation currently employs 223 people in the country and the lender said it was not sure how many would be offered roles at HSBC. The deal does not include Lloyds’ International Wealth Business in the UAE, which encompasses the lender’s private banking branch in Dubai International Finance Centre and its offshore international personal banking service. “[Llloyds’] decision to sell the onshore UAE presence follows its group strategic review, announced on 30 June 2011, when it committed to simplify its international footprint,” said Richard Musty, Lloyds’ country head for the UAE. HSBC has been undergoing a restructuring process of its own in the UAE. Last week, Arabian Business revealed that staff at HSBC Middle East had received an email announcing immediate company plans to implement redundancies. Sources said the email did not specify the number of job cuts or in which departments they would occur, but recipients of the email included employees in wealth management. In a later emailed statement sent out by HSBC, the lender confirmed that it was restructuring in the UAE, but could not confirm how many employees would be effected or in which departments.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

lloyds to sell uae operation to hsbc lloyds to sell uae operation to hsbc

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

lloyds to sell uae operation to hsbc lloyds to sell uae operation to hsbc

 



GMT 06:29 2017 Wednesday ,27 September

Dubai airport passenger traffic up 6.6% in August

GMT 08:24 2017 Tuesday ,28 March

Murray a doubt for Davis Cup with elbow injury

GMT 20:40 2017 Saturday ,11 February

Iraqi President meets British Defence Secretary

GMT 21:44 2017 Wednesday ,02 August

KeriKit appoints Good Results PR

GMT 17:42 2017 Friday ,14 April

Fifi Abdo is a guest of 'Lahoun We Bass'

GMT 04:16 2017 Saturday ,14 October

'We will never let these terrorists win': Cameron

GMT 14:02 2017 Saturday ,21 October

judged harshly because of success

GMT 08:35 2018 Friday ,05 January

Root falls short of elusive century

GMT 02:13 2017 Tuesday ,24 October

Feb20/Mar20

GMT 08:33 2017 Tuesday ,14 November

Italy miss out on World Cup as Sweden qualify
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday