March 31 HSBC Holdings Plc said an agreement to sell its banking business in Uruguay to Banco GNB Sudameris had ended.
HSBC, Europe's biggest bank by market capitalisation, did not give a reason for the agreement falling through, but said on Monday that it was exploring alternative options for a sale of the business.
HSBC struck a deal in 2012 to sell its operations in Colombia, Uruguay, Peru and Paraguay for $400 million to Banco GNB Sudameris.
The European bank has been quitting smaller markets and businesses to cut costs and streamline operations. (Reporting by Karen Rebelo in Bangalore; Editing by Kirti Pandey)