HSBC Wants 1 million China Credit Card Users in 2006

Published on:
12 September 2006 at 10:20 a.m. ET

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http://www.insidearm.com/news/00004861-hsbc-wants-1-million-china-credit-card-us/

By George Chen, Reuters

Europe’s biggest bank, HSBC Holdings Plc., aims to sign up 1 million credit card users by mid-2006 with its Chinese banking partner, a senior executive told Reuters on Thursday.

Ron Logan, chief executive of the HSBC’s joint card center with Bank of Communications, said he expected the unit to be profitable in three to four years.

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