HSBC sells French retail banking biz to CCF – FinTech buzz!

HSBC Continental Europe (HBCE) has announced the completion of the sale of its retail banking business in France to Crédit Commercial de France (CCF), a subsidiary of My Money Group. The sale, which was first reported in May 2021, was completed on 1 January 2024, following necessary regulatory approvals. My Money Group has since renamed itself CCF Group and claims to have total assets of over €30 billion and a cash position of €10 billion. HSBC CEO Noel Quinn described the transaction as an “important milestone” in the bank’s European strategy.