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HSBC to Add 15-20 China Branches In 2010
Hong Kong and Shanghai Banking Corporation (HSBC) Holdings (NYSE:HBC; 0005.HK, LSE:HSPA, EPA:HSB) plans to have 100 branches in China by late 2009 and add 15 to 20 next year, 163.com reported quoting HSBC's Asia Pacific CEO Sandy Flockhart said at a conference in Taipei on November 2. HSBC's China subsidiary currently operates 87 branches, making it one of the biggest foreign banks in the country, the report said.
HSBC Holdings and Bank of Communications (BoCom) (3328.HK, 601328.SH) have submitted a proposal to form a Shanghai-based credit card joint venture in Shanghai, according to reports in late October.
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