HSBC says may sell Monaco private banking business

LONDON Tue May 14, 2013 1:23pm EDT

People sit in an outdoor coffee shop in front of an HSBC bank branch in Valletta May 8, 2013. REUTERS/Darrin Zammit Lupi

People sit in an outdoor coffee shop in front of an HSBC bank branch in Valletta May 8, 2013.

Credit: Reuters/Darrin Zammit Lupi

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LONDON (Reuters) - Europe's largest bank HSBC (HSBA.L) said it may sell its private banking business in Monaco as part of an ongoing strategic review.

It had received "unsolicited expressions of interest" for the unit, it said in a statement on Tuesday.

HSBC has closed or sold more than 50 businesses since 2011 and is due to give a strategy update for investors on Wednesday.

(Reporting by Rosalba O'Brien)

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