KDB Financial Group is in discussions to acquire the South Korean retail-banking operations of HSBC Holdings, The Wall Street Journal reports. South Korean government–owned KDB is seeking to purchase the business from Hong Kong & Shanghai Banking Corp., the Asian division of HSBC.
KDB Financial focuses on investment banking and corporate financing. It was set up in October 2009 after re-assigning its policy banking functions to Korea Finance Corp.
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HSBC Holdings Korean Retail Ops South Korean KDB KDB Financial Group