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HSBC to sell Egypt retail assets to Emirates NBD
HSBC Group has lowered its expectations of approximately $300 million in profits from the sale of its retail banking services in Egypt to HSBC Egypt. This deal is part of the bank's strategy to exit some of its financing activities in the Egyptian market, aiming to improve its financial position and focus on other more profitable operations. No specific timeline has been mentioned for the completion of the deal, but it reflects the bank's approach to reassessing its investments and strengthening its financial performance.
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