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HSBC Holdings investing $1.3 billion to standardize operations in Latin America

Friday, December 3, 2010

HSBC Holdings has embarked on a four-year, $1.3 billion investment plan to standardize its operations in 15 Latin American countries.
A senior executive said that the expense of standardization is weighing on the bank's profitability in the region, which stands at 11 percent versus a corporate target of 15 to 19 percent.
The benefits of aligning products, systems and customer service standards merit the outlay, he said.
Original source: Dow Jones