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HSBC will be investing $15-17 billion by 2020 to improve areas like technology as it aims to change its cost-cutting strategy to push growth. It will also do the same in its core markets in Asian countries like China, all while keeping dividend targets and profitability less changed, as stated by John Flint, the new CEO of the company.

This announcement is John Flint’s first public indication to shareholders of the strategy he wishes to imply at HSBC. HSBC has been struggling to meet profitable goals in the past few years after shrinking its global empire. Flint has outlined an ambitious goal to increase its return on tangible equity to 11% from 6.8% in 2017, keeping it in line with former objectives.

This update will mark a shift in HSBC’s cost-cutting attitude during the post-2008 crisis to growth and investment. The main points of the bank’s restored entry and strategy might come as an astonishment to HSBC investors, with the focus on distant expansion to China, particularly in the Pearl River Delta region.

HSBC also seeks to further expand in the British mortgage market as one of the eight new strategic targets. Meanwhile, HSBC shares have not shown much reaction to the announcement, and remained flat at 0852 GMT, when compared with 1% rise in the FTSE 350 British banks index.

HSBC will also continue lending of unsecured loans in its retail bank, holding on riskier but equally more profitable and lucrative segment of the business that pushes the larger profits obtained by its domestic rivals in the US. While, few of the company’s identified areas for growth are focused on its investment banking business.

John Flint stated on February that the bank was reviewing its franchise in the US, which also suffered from the lack of growth and the consequences of its disastrous consumer lender household in 2003 which led to the acquisition of $15 billion.