LONDON--HSBC Bank PLC, a subsidiary of HSBC Holdings PLC (HSBA.LN), said Tuesday it has sold a portfolio of non-performing personal unsecured and secured loans to the Paragon Group of Companies PLC (PAG.LN), for a total cash consideration of 13.5 million pounds ($21.8 million).
The portfolio is made up of loans from HFC Bank Ltd, an indirectly wholly-owned subsidiary of HSBC that was put into run off in 2009.
HSBC Holdings PLC shares in London at 0818 GMT traded down 0.60 pence, or 0.1%, at 672.0 pence, valuing the company at GBP125.45 billion.
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(END) Dow Jones Newswires
October 08, 2013 04:35 ET (08:35 GMT)Copyright (c) 2013 Dow Jones & Company, Inc.
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