HSBC Holdings said it could divest as many as 20 branches in New York City as part of its $10.3 billion acquisition of Republic New York Corp.

The deal, announced Monday, would create a bank with 8.23% of deposits in New York State - the third largest share, behind those of Chase Manhattan Corp. and Citigroup Inc. - and a formidable force in private banking.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.