HSBC Holdings Plc has agreed to sell two portfolios of consumer loans in the United States for $3.2 billion in cash as part of a strategy to slim down its U.S. operations.Europe's biggest bank has been looking to sell more than $6 billion worth of U.S. mortgages and other personal loans as part of an accelerated rundown of its troubled U.S. loans book.HSBC said on Tuesday that its HSBC Finance Corporation (HFC) division is selling its personal unsecured loan and personal homeowner loan portfolios to Springleaf Finance Inc and Newcastle Investment Corp.The assets were valued by HSBC at around $3.4 billion at the end of 2012.
Shares of HBC traded higher by 0.07% or $0.038/share to $53.99. In the past year, the shares have traded as low as $38.56 and as high as $57.37. On average, 1434290 shares of HBC exchange hands on a given day and today's volume is recorded at 595814.
Newcastle Investment Corp. (Newcastle) is a real estate investment and finance company. Shares of NCT traded higher by 0.85% or $0.095/share to $11.22. In the past year, the shares have traded as low as $5.73 and as high as $11.38. On average, 4661660 shares of NCT exchange hands on a given day and today's volume is recorded at 1693379.
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