Cairo: HSBC, Europe’s largest London-based bank, plans to pump about $ 10 to $ 17 billion by 2020 to expand into major Asian markets, including Hong Kong and China, while improving the financial technology needed to attract investors.
The bank’s Chief Executive John Flint who has been in office for only four months, said he plans to spend about $ 10 billion to strengthen his presence in the Pearl River Delta region of China and Hong Kong, as well as wealth management in several other Asian countries, while the rest will be spent on technology development.
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