Banking giant HSBC is set to expand its presence in Scotland by making a GBP20 million investment to open at least five branches over the next two years.
Although HSBC is the biggest bank in the UK, its Scottish presence is currently quite small.
The group intends to open the first of the new branches in Edinburgh in January 2007. It is expected that this branch will employ around 40 staff. Following on from this, HSBC wants to open further branches in Perth, East Kilbride, Livingstone, and Aberdeen. An additional site is also being sought in Glasgow. Altogether the investment is expected to create approximately 200 jobs.
Alan Keir, HSBC’s general manager for commercial banking in the UK and Europe, was quoted in the Sunday Herald newspaper as saying: This is an exciting time for the market here in Scotland. We think that there is a real opportunity for growth in the market here.