By Sabela Ojea

HSBC Holdings PLC said Monday that it has reached an in-principle agreement for the sale of its Greek retail bank to Pancreta Bank SA as it continues to refocus on its Asian businesses.

The lender said that the potential transaction, managed by HSBC Continental Europe, is expected to complete in the first half of 2023.

"All staff members employed by HSBC Continental Europe, Greece at completion of the potential transaction would transfer to Pancreta Bank SA as part of the sale," the bank said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

March 14, 2022 06:46 ET (10:46 GMT)

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