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In November 2021, the sale of our retail banking activities in France entered a new phase with the signing of a framework agreement between HSBC Continental Europe ("HBCE") and My Money Group ("MMG") enabling the start of the transaction implementation phase. 

In parallel, several other agreements were entered into which aim to ensure continuity of service to our customers who hold asset management products with HSBC Global Asset Management (France) and HSBC REIM (France), and protection and/or life-wrapped insurance products with HSBC Assurances Vie (France).

This transaction is expected to complete in 2023, subject to the completion of key milestones, including:

  • clearance from relevant supervisors, including the Autorité de contrôle prudentiel et de (ACPR), the European Central Bank (ECB) and other regulatory bodies
  • the IT, operational and commercial migration of the business from HBCE to MMG

After completion of the transaction, the retail banking activities are expected to operate under the emblematic CCF brand, which embodies the values of customer service and innovation, with the aim of perpetuating its legacy of excellence.

We will continue to update you and share important news throughout this transition period.

 

Information last updated on 01 February 2022

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