British banking group HSBC in the next three years, plans to reduce the cost of 2,5-3,5 billion

The British banking group HSBC Holdings, one of the largest in the world, over the next three years, plans to reduce the cost of 2,5-3,5 billion and produce a strategic review of the segment of operations with bank cards in the U.S., reports RIA Novosti referring to the agency MarketWatch and the company message. In addition, the bank plans to focus on asset management in eighteen key markets, while reducing in the regions retail banking operations. HSBC also plans to reduce the ratio of costs to business efficiency to 48-52% by 2013 against 60.9% in I quarter of 2011. "We are facing important challenges, we need to accelerate the pace of change in the company," - said the bank's chief executive officer Stuart Gulliver. In April, the bank has told about plans to close its retail business in Russia in order to concentrate on serving corporate customers. Group HSBC Holdings PLC was formed in 1990 as a company which controls the activity existed since 1865 the bank HSBC (Hongkong and Shanghai Banking Corporation). Offices of the group are located in 88 countries. Net profit financial services company in the I quarter of 2011 increased by 58% - to 4.15 billion dollars. Source: Banki.ru