Credit Mutuel seems to be the most likely candidate to buy more than half the French operations of HSBC while HSBC says it will focus on emerging markets. HSBC also declined to comment on reports that the bank was selling its French operations. The most efficient way to impliment HSBC’s “Household Model” is to do so in developing nations and emerging markets. The model is based on, and named after predatory lender Household International. HSBC purchased Household in 2003.

HSBC, which has operations across the world, and markets itself as “the world’s local bank,” has announced $3.4 billion in write-downs on its U.S. loan book, though thanks to its strong sales in Asia, and the Middle East, the subprime crisis is yet to derail strong profit growth. HSBC will report final quarter and 2007 profits on March 2, 2008.

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