HSBC To Stop Retail Banking In Poland

HSBC Holdings is winding up its retail operations in Poland.

HSBC Holdings is winding up its retail operations in Poland, The Wall Street Journal reports. The bank will shut down retail and wealth management functions spread across 10 divisions to solely focus on corporate and wholesale banking.

Nearly 263 employees constitute the retail business. The bank is reviewing its retail banking in 39 countries, including Russia, to reduce annual costs by $2.5-3.5 billion by 2013.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Reuters.