HSBC Buys RBS's Kazakhstan Retail Banking Assets For $52M

17th Jun 2010 14:54

LONDON (Dow Jones)-- HSBC Holdings PLC (HSBA.LN), a global banking group, said Thursday it has agreed to acquire the Kazakhstan retail banking assets of Royal Bank of Scotland Group PLC (RBS.LN) for a maximum consideration of $52 million in cash. MAIN FACTS: -Under the terms of the agreement, HSBC will acquire RBS Kazakhstan's personal customer loan and credit card portfolios, together with four branches, 80 ATMs and two support offices. -HSBC will also offer employment contracts to around 490 of RBS Kazakhstan's banking staff. -Shares at 1350 GMT up 0.7 pence, or 0.1%, at 649.5 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; [email protected] (END) Dow Jones Newswires June 17, 2010 09:54 ET (13:54 GMT)