HSBC (HBC) is to sell 195 branches, mostly in New York, to First Niagara Bank (FNFG) for $1B as...

|About: HSBC Holdings PLC (HSBC)|By:, SA News Editor

HSBC (HBC) is to sell 195 branches, mostly in New York, to First Niagara Bank (FNFG) for $1B as part of the U.K. bank's plan to pare its U.S. operations and exit non-core markets. First Niagara may sell some branches that don’t fit with its strategy and to allay any antitrust concerns. (PR)