HSBC offloads non-core Indan assets

28th Jun 2012 11:30

HSBC, Britain's biggest bank, has sold two non-core assets in India.The sales of small stakes in Axis Bank and Yes Bank have raised $425m.HSBC is a major player in India with around 30,000 employees and interests in orthodox banking, investment banking and capital markets.At 11:37 the stock was down 2.3%, possibly having caught the backdraft from news that Barclays bank manipulated the key London Interbank Offer Rate (LIBOR).BS