A deal has been agreed by HSBC Continental Europe to sell its private banking division to BNP Paribas in Germany. The possible deal is contingent upon receiving the necessary government clearances and the resolution of discussions with the German Works Council.

BNP Paribas has signed a deal to buy HSBC's private banking unit in Germany as it continues to expand its footprint in wealth management, the French lender said on Monday. The deal, which BNP said should be closed in the second quarter of 2025,

Die Konsolidierung im deutschen Wealth Management setzt sich fort. HSBC Deutschland will jetzt ihr Private-Banking-Geschäft an BNP Paribas verkaufen. Erst vor kurzem hatte ABN Amro die Übernahme von Hauck Aufhäuser Lampe bekanntgegeben.

BNP Paribas has struck a deal to acquire HSBC's German private banking arm as the French lender looks to expand in wealth management.

BNP Paribas said on Monday that it has agreed to buy HSBC’s private banking activities in Germany, as it looks to position its wealth management arm "among the top leading players in Germany" and bring its assets under management to more than €40bn.

HSBC announces an agreement to sell its Germany-based private banking business to BNPQY. This is part of its plan to focus on the Asia region.

BNP Paribas has signed an agreement with HSBC Holdings to buy the UK-based lender’s private banking operations in Germany, according to a statement on Monday (Sep 23). Read more at The Business Times.