HONG KONG, May 22 (Reuters) - HSBC Holdings Plc is exploring the sale of its Brazilian unit, theUK-based lender said in a stock exchange filing in Hong Kong onFriday.
Reuters reported on May 13 that HSBC would select apreferred bidder for the struggling business by as early as nextmonth, as part of a broader plan by Chief Executive StuartGulliver to dispose of underperforming assets.
HSBC at that time declined to comment on the possible sale.
HSBC Bank Brasil Banco Múltiplo SA, the nation'sseventh-largest commercial lender, lost a net 442 million reaislast year. (Reporting By Lawrence White; Editing by Gopakumar Warrier)