HSBC to get rid of Marbles
This may also be part of HSBC’s repositioning, or perhaps a move to make Knight Vinke happy. Other analysts thought HSBC would keep their credit card operations while getting rid of predatory and subprime lending. Such lending is often equated with Household International, now called HSBC Finance Corp. An earlier press release this same day said HSBC was closing some Canadian locations.
HSBC is looking to sell Marbles, the online credit card business it bought when it acquired Household International in 2003. A small number of hedge funds and private equity groups are said to be interested in buying Marbles’ portfolio of loans, whose sterling receivables are in the mid-hundreds of millions. The sale process is said to have picked up steam in the past few days.
The credit card book is a discrete portfolio that can be sold off easily. Marbles also markets personal loans, though these are not for sale and can be absorbed by HFC Bank, Household’s UK business. Marbles has been closed to new business since April.
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[…] research wrote an interesting post today on HSBC to get rid of MarblesHere’s a quick excerptHSBC to get rid of Marbles This may also be part of HSBC’s repositioning, or perhaps a move to make Knight Vinke happy. Other analysts thought HSBC would keep their credit card operations while getting rid of predatory and subprime lending. Such lending is often equated with Household International, now called HSBC Fina… Read the full post from Household HSBC Watch Tags: 2007 HSBC via Blogdigger blog search for marketing research. […]
[…] research wrote an interesting post today on HSBC to get rid of MarblesHere’s a quick excerptHSBC to get rid of Marbles This may also be part of HSBC’s repositioning, or perhaps a move to make Knight Vinke happy. Other analysts thought HSBC would keep their credit card operations while getting rid of predatory and subprime lending. Such lending is often equated with Household International, now called HSBC Fina… Read the full post from Household HSBC Watch Tags: 2007 HSBC via Blogdigger blog search for business marketing. […]
[…] HSBC to get rid of Marbles This may also be part of HSBC’s repositioning, or perhaps a move to make Knight Vinke happy. Other analysts thought HSBC would keep their credit card operations while getting rid of predatory and subprime lending. Such lending is often equated with Household International, now called HSBC Fina… […]
[…] HSBC to get rid of Marbles This may also be part of HSBC’s repositioning, or perhaps a move to make Knight Vinke happy. Other analysts thought HSBC would keep their credit card operations while getting rid of predatory and subprime lending. Such lending is often equated with Household International, now called HSBC Fina… […]
[…] HSBC to get rid of Marbles This may also be part of HSBC’s repositioning, or perhaps a move to make Knight Vinke happy. Other analysts thought HSBC would keep their credit card operations while getting rid of predatory and subprime lending. Such lending is often equated with Household International, now called HSBC Fina… […]