HSBC sold its Canadian subsidiary to RBC. That makes sense, as HSBC was only a small bank in Canada.
Although Canada was just 3% of HSBC's global operations, the sale brings in $10 billion. That's 8% of HSBC's market cap!
HSBC should use this money to gain market share in its core regions.
By buying Standard Chartered, HSBC can strengthen its position in Asia.
Acquiring NatWest (RBS) would make it the largest retail bank in the UK.
But the cheapest option is something you might not expect...