UBS sees HSBC, peers under pressure to exit some emerging markets

April 13, 2015 2:52 PM

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SAO PAULO, April 13 (Reuters) - HSBC Holdings Plc is among global lenders facing pressure to exit underperforming businesses in emerging markets nations from Brazil and Mexico to South Korea, creating opportunities for local banks to assert control of their home turf, analysts at UBS Securities said on Monday.

Besides HSBC, global banks such as Citigroup Inc and Standard Chartered Bank Plc have expressed interest in exiting units chiefly viewed as substandard and underperforming businesses, UBS strategist Philip Finch said in a client note.

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