HSBC shifts into growth mode with planned $17b investment in Asia

The investment will go into the bank's China and Hong Kong markets.

Reuters reports that HSBC is aiming to invest between $15-17b to its core Asian markets of Hong Kong and China as well as grow its technological capabilities, according to new chief executive John Flint.

Aslo read: HSBC Singapore integrates personal information vault into credit card application process

The bank is targeting a return on tangible equity of 11 percent by 2020, Flint said, and will sustain its dividends at current levels.

"After a period of restructuring, it is now time for HSBC to get back into growth mode," Flint said.

The announcement comes shortly as the bank beefs up its Asia-Pacific equities business by luring top executives from Deutsche, Citi and CLSA to beef up its business against declining trade commissions.

Senior hires have included Goldman Sachs’ Michael Chandler, the global head of equities sales for Asia Pacific, and Chito Jeyarajah last year.

Here’s more from Reuters:

Also Read

Cambodia enables QR payments from foreign e-wallets through Alipay+

Hong Kong to rename ‘virtual banks’ to ‘digital banks’

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit