HSBC Bank Middle East has denied that it is shutting down its branch in Kuwait, as reported this morning in a section of Kuwaiti media.
In an emailed statement sent to Emirates 24/7, the bank confirmed that it will close its premier retail banking operations by year-end in that country, but that its branch would remain operational and continue to provide other services, including commercial and private banking offerings.
“Following a global strategic review of its operations, HSBC confirms it will close its HSBC Premier Retail Banking offer in Kuwait on December 31, 2011, in order to focus its resources on growing its Global Banking and Markets, Commercial Banking and Private Banking businesses. Customers have already been informed of this decision,” the bank’s emailed statement said.
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