BUSINESS
03/28/2008 02:45 am ET | Updated May 25, 2011

HSBC Expected To Sell 400 Banks

HSBC Holdings, the biggest bank in Europe, plans to put about half of its 800 French consumer branches up for sale as it focuses on expanding in Asia and other emerging markets, a person with direct knowledge of the plan confirmed on Sunday.

The step would be part of HSBC's broader shift from developed markets with more exposure to subprime loans to faster-growing emerging markets, said the person, who declined to be identified because the sale had not been announced.

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