Our perspective and support
In June 2021, we informed you of a plan to sell the retail banking business in France from HSBC Continental Europe to a member of My Money Group, an independent French banking group, supervised in France by the Autorité de contrôle prudentiel et de résolution ("ACPR").
In November 2021, the contemplated sale of our retail banking activities in France entered a new phase with the signing of a framework agreement between HSBC Continental Europe and My Money Group enabling the start of the transaction’s implementation phase. This process is expected to complete in the second half of 2023, subject to regulatory approval, the satisfaction of certain other conditions and the completion of the IT migration. After completion of the transaction, the retail banking activities are expected to operate under the CCF brand.
Today, preparation for the IT migration is underway. The migration will take place according to a specific action plan, which involves several tests to check the integration of the data into the future banking information systems and its accuracy.
We will continue to update you and share important news throughout this transition period.
Information last updated on 20 June 2022