HSBC's new chief executive said Monday he wanted a return to growth for the banking giant after a huge restructuring that saw the lender exit numerous markets and axe tens of thousands of jobs.
John Flint, who replaced Stuart Gulliver in February, said he plans to invest $15-17 billion (12.7-14.4 billion euros) primarily in growth and technology projects.
"After a period of restructuring, it is now time for HSBC to get back into growth mode," Flint said in a statement.
"In the next phase of our strategy we will accelerate growth in areas of strength, in particular in Asia and from our international network."
Flint said that over the next two years, the bank aims to deliver mid-single digit growth in revenue and low to mid-single digit growth in operating expenses.
He added that the updated strategy involves turning around its US business and to increase its share of the home loans market in the UK.
Flint was promoted to the top job after serving as HSBC's head of retail
banking and wealth management.
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