We are the world’s leading international bank. Our international network generates more than half of the HSBC Group’s client revenue and covers markets that account for more than 90 per cent of global GDP, trade and capital flows.

Since 2011, we have pursued a two-part strategy: to develop our international network, and to invest in wealth and retail businesses with local scale. This strategy is working and has enabled us to capitalise on our competitive strengths.

Our access to high-growth, developing markets in Asia, the Middle East and Latin America gives us a platform for long-term growth – and enables us to connect our customers to opportunities around the world. And our balance sheet strength continues to provide an excellent foundation for a sustained dividend.

Today, after a period of significant transformation for the bank, we are refocusing on growth. We aim to increase customer numbers, take market share, and grow revenue and profits on a consistent basis. We will do this while taking action to improve our competitiveness in the future, including by investing in technology.

Strategic priorities

In June 2018 we set out a series of strategic priorities to deliver revenue and profit growth, improve returns to shareholders, and enhance the service we provide to customers. We aim to:

  • Accelerate growth from our Asian businesses, including in Hong Kong, the Pearl River Delta, ASEAN, and Wealth in Asia, including Insurance and Asset Management; and be the leading bank to support the transition to a low-carbon economy and the China-led Belt and Road Initiative

  • Complete the establishment of our UK ring-fenced bank, increase mortgage market share, grow our commercial customer base, and improve customer service

  • Gain market share and deliver growth from our international network

  • Turn around our US business

  • Improve capital efficiency and redeploy capital into higher-return businesses

  • Create the capacity for increasing investments in growth and technology through efficiency gains

  • Improve our customer service by investing further in technology and our digital capabilities; increasing our reach; and delivering industry-leading financial crime standards

  • Simplify the organisation and invest in future skills

Alongside these eight strategic priorities, we also set out updated financial targets. These include:

  • Delivering a return on tangible equity (RoTE) of greater than 11 per cent by 2020

  • Achieving positive adjusted  jaws on an annual basis; this means growing adjusted revenue faster than adjusted costs

  • Sustaining the dividend at current levels and undertaking, as appropriate, share buybacks to neutralise any share issuance as a result of scrip dividends, subject to regulatory approval

To find more detail about our strategic priorities and financial targets and access our investor presentation, read the HSBC Strategy Update 2018.