OOO HSBC Bank (RR) (Russian: ООО Эйч-эс-би-си Банка (РР); commonly referred to as HSBC Russia) was a subsidiary of HSBC Holdings plc, headquartered in Moscow, Russia. The bank provided personal banking and corporate banking services. In 2024, Expobank acquired HSBC Russia.
History
HSBC established its presence in Russia in 1996, focusing primarily on corporate banking services to support international businesses operating in the country after the dissolution of the Soviet Union.
In 2009, HSBC Russia expanded its operations by launching retail banking services, opening its first retail branch in Russia with the aim of offering a comprehensive range of financial products to individual consumers.[1]
In 2011, HSBC agreed to sell parts of its Russian retail banking business to Citibank as part of plans announced earlier in the year to focus on commercial and wholesale banking in Russia, citing the challenging economic environment and the need to focus on more profitable areas of its business. The bank closed its retail operations, sold four branches in Moscow and one in Saint Petersburg, and reduced its private banking presence to a