According to Group Chairman Datuk Seri Nazir Razak, the growth would be driven by all its business segments, particularly from consumer banking and wholesale on the corporate side.
In an announcement earlier this week, London-listed lender CYBG, which was spun off from NAB, said it would raise its half-year provisions to cover costs related to an earlier insurance industry scandal.
The new CEO has had an extremely busy few months, holding a series of meetings with institutional investors in Australia and overseas, and visiting CBA operations in Hong Kong and South Africa.
QNB, the largest bank by assets in the Middle East and Africa, is active in Egypt and Turkey and has made forays into Singapore, Vietnam, Myanmar, India, Indonesia and China.
The Raffles Place launch "signals HSBC's intention to increase investment into Singapore across its consumer and wholesale banking businesses as part of a new three-year country plan", the bank said in a statement.