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
HSBC's CEO Plans Further Acquisitions Following Hang Seng Buyout
HSBC's Strategic Acquisition Plans
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.
Focus Areas for Growth
"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.
Divestment from Non-Strategic Areas
He added that the bank would at same time continue divesting from non-strategic areas over the next year.
Market Valuation Risks
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)
