HSBC is planning to expand its retail banking business in Asia by adding 3,000 employees in Foshan's Pearl River Delta, this region includes cities Shenzhen and China. HSBC is hoping to increase pretax profit in this region 10 times to $1bn within five years. HSBC chose to locate in the Pearl River Delta as is home to a growth middle class, a demographic which the bank hopes to generate business from. Chairman, Douglas Flint said the Pearl River Delta, “could represent another Hong Kong in terms of opportunity for HSBC.”
HSBC is planning to expand its retail banking business in Asia by adding 3,000 employees in China's Pearl River Delta, this region includes cities Shenzhen and Foshan. HSBC is hoping to increase pretax profit in this region 10 times to $1bn within five years. HSBC chose to locate in the Pearl River Delta as is home to a growth middle class, a demographic which the bank hopes to generate business from. Chairman, Douglas Flint said the Pearl River Delta, “could represent another Hong Kong in terms of opportunity for HSBC.”