HSBC to announce restructuring, fee collection strategy next mth

HONG KONG (AFX-ASIA) - HSBC is expected to announce its restructuring plan and service fee collection strategy early next month, the Ming Pao quoted Hongkong and Shanghai Banking Corp assistant general manager D.K. Yip as saying. Yip said the number of HSBC branches will decrease but that this does not mean the bank will reduce its workforce. He gave no further details. The report said the restructuring and change in fee collection strategy are in response to the full deregulation of bank interest rates scheduled for July.

Related stock : (NIL)