BOAO, Hainan - HSBC, Europe's biggest lender, expects branch growth in China this year to be similar to 2009, as the bank continues to expand in the fast growing region.
HSBC added 19 branches in China last year, bringing the total number of outlets there to 99, Richard Yorke, head of the bank's China operations, told a media briefing on the sidelines of the Boao Forum in China's tropical province of Hainan.
HSBC is trying to grow in China, including planning for a Shanghai listing to develop its business there and relocating its global chief executive, Michael Geoghegan, to Hong Kong to be close to the region that is driving the firm's growth.
It also owns a 20 percent stake in China's fifth-largest lender Bank of Communications.
