HSBC Singapore is looking to expand its branch network by at least 20 percent in Singapore, The Business Times reported Friday.
This could be accomplished next year through some refocusing on corporate clients and possibly an increase in offsite automated teller machines by 50 percent.
The bank is also eyeing Islamic banking in the region and David Eldon, HSBC chairman said Singapore could be a centre for the development of Islamic banking products as there was increasing interest from Middle East investors who traditionally looked to the U.S. and Europe but who are now seeking opportunities in Asia.
© Copyright 2004 by United Press International
