HSBC expands China private banking network, adds two new branches
FILE PHOTO: Pedestrians wearing face masks following the coronavirus disease (COVID-19) outbreak, walk past a HSBC bank branch in Hong Kong, China February 22, 2022. REUTERS/Lam Yik
HONG KONG: HSBC Global Private Banking said on Tuesday (Oct 11) it has opened two new branches in the large Chinese cities of Chengdu and Hangzhou, in a push to capture a bigger share of China's wealth market.
The bank also said it plans to explore opportunities in China's Southwest region. Its existing branches are located in eastern areas where more high net-worth individuals reside.
HSBC sees robust demand for wealth management in Chengdu, the capital of the western province of Sichuan. The bank has another four branches in Beijing, Shanghai, Guangzhou and Shenzhen.
