13th Jan 2005 13:37
HSBC Holdings PLC13 January 2005 This announcement has been re-released to facilitate onward transmission by third party vendors. The announcement is unchanged and is reproduced in full below. The following is a translation of a press release issued by CCF in France: CCF to adopt the HSBC brand in France as it plans to improve customer service and accelerate growth Following CCF's board meeting on 12 January, the management of the bank todaypresented a new strategic plan to the bank's Works Council and employees inFrance. In an increasingly competitive environment, CCF aims to accelerate growth in itskey customer groups and to become a benchmark institution for quality of adviceand service. The aim is to increase CCF Group revenues by around 45% between2003 and 2008^. The following actions will be taken to achieve these targets: •Rolling out the HSBC Group brand to the entire CCF, UBP, Banque de Picardie branch networks and Banque Hervet branches in the Paris region. •Opening about 150 new branches across all networks and recruiting almost 1,000 new commercial banking staff to strengthen CCF's commercial capability and its service offerings for core customer groups. •Strengthening services for business and personal customers and enhancing online services by taking further advantage of the HSBC Group's technology. •Extending customer access to the HSBC Group's global network (across 10,000 offices in 76 countries and territories) to further meet their international needs - an initiative for business clients and for personal customers who can benefit from services like the HSBC International Premier package. •Using the experience acquired by CCF to become the HSBC Group's European or global platform for a series of financial products where France has first-class expertise. These products include structured interest-rate and structured equity derivatives, and quantitative investment services. •Maximising efficiency by tailoring operations around customer group and adopting the most effective information systems developed by the HSBC Group as part of its global policy. The resulting restructuring in some activities will be limited to the strictly necessary and there will be no forced redundancies. Revenue growth and increased efficiency will lead to a yearly average 1.5-2%reduction in the cost:income ratio between 2003 and 2008^. Charles-Henri Filippi, Chief Executive Officer of CCF, said: "We want ourcustomers to enjoy the full benefits of HSBC's comprehensive service offeringand international scale. The HSBC Group's geographical reach, financial strengthand global technology resources are huge assets which, combined with our ownacknowledged expertise in relationship retail banking in France, will enable usto offer our customers a better service and convince many more to join us. "This strategic plan builds on CCF's values and past successes. But it is also amajor project that will involve change for all of us. It will be accompanied byan ambitious human resources policy designed not only to strengthen ourperformance and quality but also to provide our people with career opportunitiesand personal fulfilment at all levels." Implementation of these projects is subject to the various consultationsrequired by law, notably with staff representative bodies. ^The figures are UK GAAP figures excluding goodwill amortisation for theoperating activities of HSBC in France (including the HSBC Paris branch); theimpact of IFRS has not been included at this stage. Forward-looking statementsThis presentation may contain certain forward-looking statements with respect tothe financial condition, results of operations and business of the HSBC Group.These forward-looking statements represent the HSBC Group's expectations orbeliefs concerning future events and involve known and unknown risks anduncertainties that could cause actual results, performance or events to differmaterially from those expressed or implied in such statements. This announcement should not be interpreted to mean that the HSBC Group'sprofits will necessarily match or be greater than its historical publishedprofits. Notes to editors: The HSBC GroupHSBC Holdings plc, the holding company for the HSBC Group, is headquartered inthe UK. The HSBC Group serves over 110 million customers worldwide fromapproximately 10,000 offices in 76 countries and territories in Europe, theAsia-Pacific region, the Americas, the Middle East and Africa. With assets ofUS$1,154 billion at 30 June 2004, the HSBC Group is one of the world's largestbanking and financial services organisations. HSBC is marketed worldwide as 'theworld's local bank'. ends This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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