(Adds details from FT report, background)
Nov 28 (Reuters) - HSBC Holdings Plc is considering
a complete exit from retail banking in the United States after
narrowing the options for how to improve performance at its
struggling North America business, the Financial Times reported
on Saturday.
The bank's senior management aim to present the plan to the
board in the coming weeks, the FT reported, citing people
familiar with the situation. https://on.ft.com/37j4470
HSBC declined to comment on the report.
HSBC said last month it planned to reduce annual costs to
below $31 billion by 2022, a more ambitious target than it set
out in February and well below the operating expenses of $42.3
billion it reported in 2019.
The bank also said it would also accelerate the
transformation of its U.S. business, where it has long struggled
to compete with much bigger players.
(Reporting by Rama Venkat in Bengaluru; Editing by Kirsten
Donovan)