HSBC To Sell Brazilian Unit To Banco Bradesco For $5.2B; H1 Profit Up 10%

HSBC Holdings Plc said Monday that it will sell its Brazilian unit to Banco Bradesco, one of the country’s leading private-sector banks, for $5.2 billion. The all-cash deal was announced along with HSBC's half-yearly earnings, which showed a 10 percent jump in profits.

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