HSBC plans to expand operations in Pakistan



LONDON, March 8 (APP): The HSBC, one of the world’s largest banking and finance services organizations, is planning to expand its operations in Pakistan owing to the positive economic policies and reforms undertaken in the financial sector in the country.

The Group’s Chief Executive Stephen K Green, who called on Prime Minister Shaukat Aziz here, appreciated Pakistan’s economic reforms. He praised Pakistan’s growing economy and said far reaching reforms had made a positive impact, particularly in the financial sector.

He said the reforms could lead to more investment and improvement in the financial services being provided in the country. The reforms have created a very good environment and more attraction for foreign investment, he added.

The Prime Minister informed him of the opportunities available in Pakistan for foreign investors and said the companies operating in the country were making good profits owing to the growing middle class.

Headquartered in London, HSBC’s international network comprises over 9,500 offices in 76 countries in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa.

HSBC Holdings reported record pre-tax profits for a British bank of $21 billion in 2005, up from $18.94 billion in 2004.

aziz met with the president of merrill lynch in the UK as well, and gave him a detailed overview of pakistan. it was reported that ML would consider coming to pakistan.

Excelent News & Pleased. HSBC Pakistan > http://www.hsbc.com.pk/pk/personal/