HSBC Holdings (HKG:0005) announces that it has completed sale of 195 retail branches, to First Niagara Bank, N.A.. Consideration received, based on figures at 30 April 2012, was approximately US$900 million.

As at 30 April 2012, the branches held approximately US$14.5 billion in deposits, over US$4 billion of brokerage and insurance assets under management and had outstanding loans to customers of US$2.2 billion.

Source:chinesestock.org