HSBC announces plans to expand further in Greece
16/2/2007 16:04
Michael Geoghegan CBE, Chief Executive of HSBC Holdings plc, announced
yesterday that HSBC decided to further expand its activities in Greece, saying
the bank is dynamically expanding in Greece through an autonomous business
strategy.
He said HSBC would consider mergers and acquisitions if the
opportunity arises.
The chief executive declined to disclose the number of
new branches to be opened in Greece, although he stressed that HSBC will focus
on retail banking.
He also referred to an improvement of Greek economic data
and progress made by local businesses over the last few years.
Vital sectors
for the business community, such as shipping, tourism and services, were
expected to strengthen more in the near future, he said, emphasizing the need to
focus more on direct banking.
HSBC operates a network of 22 branches in
Greece. The group includes HSBC Bank plc, HSBC Pantelakis Securities and HSBC
Hellas Mutual Funds Management.
Xinhua
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