HSBC to Exit Bangladesh Retail Banking in Global Streamlining Drive

HSBC has announced plans to exit its retail banking operations in Bangladesh as part of a global strategy to streamline operations and reduce costs, CEO Georges Elhedery confirmed during the bank’s H1 earnings call. The wind-down will begin in H2 2025 and follows a strategic review across four Asian markets—decisions for Australia, Indonesia, and Sri Lanka are still pending. The move aligns with HSBC’s broader reorganisation aimed at achieving USD1.5bn in cost savings by 2026. The bank’s corporate and institutional banking services in Bangladesh will remain unaffected. HSBC has recently exited or scaled down operations in several markets, including life insurance in the UK, custody services in Germany, and retail banking in Argentina, France, and Uruguay to focus on core markets.