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HSBC to expand wholesale banking in Brazil, focusing on multinationals

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Sig2.32Sen+5.21Env0.00Soc0.00Gov0.00

HSBC expects its Brazilian business to grow many times larger in coming years while staying out of retail banking. The expansion will focus on wholesale banking for Brazilian companies with international operations and multinationals, including Chinese groups. Client activity from China grew over 21% to June, with trade finance a key growth area and cross-border credit supporting acquisitions.

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