Citizens Financial Group Acquires 80 HSBC East Coast Branches and National Online Deposit Business
February 22, 2022
Citizens Financial Group has closed its acquisition of 80 East Coast branches and the national online deposit business from HSBC Bank U.S.A., N.A., adding more than 800,000 customer accounts and rebranding the branches as Citizens. The deal expands Citizens' physical presence in the New York City metro, Mid-Atlantic and Southeast Florida markets and brings more than 500 former HSBC employees to Citizens as part of the conversion.
- Buyers
- Citizens Financial Group, Inc.
- Targets
- HSBC Bank U.S.A., N.A.
- Sellers
- HSBC Bank U.S.A., N.A.
- Industry
- Financial Services
- Location
- New York, United States
- Transaction Type
- Divestiture
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