The bank is also planning increase the number of retail branches to 50, including the planned five branches in Tokyo. Stiff competition and lack of awareness for its brand name in Japan are seen as the limitations for the bank to expand. According to Reuters, Mr Moreau said: We recognize that building the brand will require effort and tenacity.
HSBC is aiming at generating business from the 6.3 million people in the Tokyo and Osaka areas alone who will be eligible for its mass affluent services.
