LONDON - BRITISH bank HSBC said its Polish unit HSBC Bank Polska has agreed to sell its consumer finance and credit card portfolios to focus on personal banking services.

The portfolios, branded HSBC Credit, will be sold to Poland's Alior Bank for a cash amount at a premium to the net book value of the receivables, HSBC said in a brief statement on Friday.

The sale of the portfolios, which had a gross asset value of 1 billion zlotys (S$497 million) at July 31, is expected to be completed in the fourth quarter.

Shares in HSBC were up 1.85 per cent at 656 pence at 0925 GMT (5.25 Singapore time). -- THOMSON REUTERS