HSBC has no plans to set up virtual bank in Hong Kong

HONG KONG (AFX-ASIA) - Hongkong and Shanghai Banking Corp has no plans to set up a virtual bank in Hong Kong, chairman David Eldon said.	    Eldon said the bank "has studied various offerings available in the market, but we see no reasons for us to seek for a licence."	    "We have been building up a strong brand name," Eldon said. "Without a brand name, can customers trust (an internet bank)?"

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