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Iain Withers 11 June 2018 • 11:32am H SBC’s new boss John Flint has set out plans to return Europe’s […]
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Iain Withers 11 June 2018 • 11:32am
H SBC’s new boss John Flint has set out plans to return Europe’s largest lender to “growth mode”, following years of deep cost-cutting and scandals.
The banking giant is targeting sustained growth in revenues over the next three years, with a focus on beefing up its presence in its largest market – Asia – as well as through a return to expansion in the UK.
In HSBC’s home market, Mr Flint said the UK division would expand revenues by at least $800m (£599m) by the end of 2020, partly through an aggressive push into the mortgage market.
But the strategy did not mark a radical departure from Mr Flint’s predecessor Stuart Gulliver, who passed on the reins in February.
Investors gave a muted reaction,… Register for free to read this article, or log in to your Telegraph account