In a presentation to analysts by Stephen Green, Chairman of HSBC, for the first time Green admitted that Household had been an essentially disastrous acquisition, that not all other diversifications had been successful, and that total shareholder return had underperformed peers. Household International is now called HSBC Finance, and HSBC previously said it […]
Global banking giant HSBC said Tuesday that it has sold some of its British credit card businesses to lender SAV Credit for about 385 million pounds (552 million euros, 796 million dollars). HSBC said in a statement that the units being sold are the Marbles and Beneficial divisions, which have about 338,000 accounts between […]
HSBC Retail Services said it has bought a credit receivables portfolio worth around 40 mln usd from Musician’s Friend, the musical instruments direct retailer.
Retail Services, an HSBC Holdings unit which issues branded credit cards in the US, took on the debt portfolio under a five-year agreement which saw it paying a premium of around […]
Bank of America finalized the purchase of MBNA, leaving HSBC far behind in the U.S. credit card market. Analysts say it’s possible that HSBC’s ‘Household International’ purchase came with such a bad reputation for predatory lending that HSBC will never catch up. Even with their pending deal to buy scandal plagued Metris, reputational […]
Trying to track down troubled predatory lender Household International? Former stock symbol HI? Need updates to the nationwide $484 million settlement? Updates on RICO charges against H&R Block and Household? Perhaps you are looking for Household Retail Services, HRS or HRSI?
The names have changed.
HSBC North America Holdings (formerly Household […]
Household International, which employs more than 450 people in the London Kentucky area, has recently changed its name to HSBC after being acquired by UK-based HSBC in 2003. HSBC North America Holdings serves 60 million customers and ranks as one of the top 10 financial-services companies in the United States, with assets approaching $300 billion. […]
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