LONDON (Reuters) -HSBC will look at making more acquisitions in key areas, the bank’s chief executive told Reuters on Thursday after the lender announced plans to buy out the remainder of Hang Seng bank. “We are capital generative and we have the financial strength to go out and acquire,” Georges Elhedery said, noting that Hong […]
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HSBC CEO says bank will look at more deals after Hang Seng move
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LONDON (Reuters) -HSBC will look at making more acquisitions in key areas, the bank’s chief executive told Reuters on Thursday after the lender announced plans to buy out the remainder of Hang Seng bank.
“We are capital generative and we have the financial strength to go out and acquire,” Georges Elhedery said, noting that Hong Kong, the UK, transaction banking and wealth were its priority areas for growth.
He added that the bank would at same time continue divesting from non-strategic areas over the next year.
Elhedery also told Reuters that while high stock market valuations were not currently a worry because of underlying economic resilience, it was “a risk we should be watching”.
(Reporting by Tommy Reggiori Wilkes, Editing by Kirstin Ridley)