HSBC Holdings PLC announced that its planned $14 billion acquisition of minority stakes in its Hong Kong subsidiary, Hang Seng Bank, is expected to be completed by the end of March, ahead of the original schedule.

The London-based bank had earlier disclosed this month its intention to purchase minority interests in the subsidiary and initially projected the deal to conclude in the first half of 2026. However, HSBC revised the timeline in a statement on Thursday, now anticipating completion in the first quarter of next year.

According to the statement, further details on the transaction timeline will be released next month.

The privatization of Hang Seng Bank marks HSBC's largest acquisition since the early 2000s, when the bank was concluding a global expansion drive that transformed it from a primarily Asia-focused regional lender into one of the world's largest financial institutions.