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HSBC to invest $15-17 billion by 2020 in push for growth

Reuters  |  LONDON 

By Lawrence WhiteLONDON (Reuters) - HSBC will invest $15-17 billion in the next three years in areas including technology and China as it swings from a strategy of cost-cutting to growth, new CEO John Flint said on Monday, while keeping profitability and dividend targets little changed. In a first public outline of his strategy at the helm of Europe's biggest bank by market capitalisation, Flint set out ambitions to grow its return on tangible equity to 11 percent, in line with previous targets, from 6.8 percent in 2017. The update marks a shift in HSBC's post-2008 crisis attitude from ...

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First Published: Mon, June 11 2018. 15:49 IST