LONDON, October 30. /TASS/. The procedure of withdrawal from the Russian market is expected to be completed in the first half of 2024, the UK-based HSBC bank said in its report.

"In June 2022, we announced the planned sale of our wholly-owned subsidiary in Russia, HSBC Bank (RR) (Limited Liability Company)," the bank said. "Completion of the transaction is subject to governmental approvals, and is now expected in the first half of 2024," HSBC noted.

The bank recognized a $0.3 bln loss on the planned sale in 2022.