HSBC closes Nairobi office in global re-organisation

Nairobi; Kenya: Global banking giant Hongkong Shanghai Banking Corporation (HSBC) has formally shut down its Nairobi office three years after it kicked off operations.

 HSBC opted to exit Kenya as part of the group's restructuring that has seen it scale down operations in all its market.

Central Bank of Kenya said it cancelled the authority granted to HSBC to operate a Representative Office in Kenya with effect from September 3, 2014.

 "HSBC has complied with all requirements expected of it under the Banking Act," CBK said in a statemen