HSBC hunts for new acquisitions in emerging markets

HSBC wants to capitalise on the growth of investments in China, India and Malaysia.

"In terms of things that come up in Asia, we are of course interested in seeing things come up...China is obviously one market we are interested in," HSBC Asia-Pacific Chief Executive, Sandy Flockhart told a small group of reporters in Taipei, where the bank is holding a board meeting. "Generally speaking, the emerging markets...are where we would like to see the bulk of our investments taking place."

HSBC is in advanced talks to buy the retail and commercial banking assets of Royal Bank of Scotland Group PLC (RBS) in China, India and Malaysia, a person familiar with the situation said last month. Flockhart declined to comment on the matter Monday.

In China, where HSBC already has a sizable operation, the bank aims to have 100 bank outlets at the end of this year, and add another 15 to 20 in 2010 if it receives regulatory approval, Flockhart said in a report in Wall Street Journal.

HSBC now has 87 outlets across China, one of the largest networks among foreign banks in the country.

Follow the link for more news on

Also Read

Australia’s Macquarie well-capitalised despite lower profits

HSBC names ex-Citi banker as head of global banking in Singapore

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit