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HSBC chair says European banks must become more efficient

FILE PHOTO: Mark Tucker Chairman of HSBC arrives at 10 Downing Street in London, Britain January 11, 2018. REUTERS/Peter Nicholls

FRANKFURT (Reuters) - The chairman of HSBC HSBA.L, Mark Tucker, called on European banks to become more efficient, noting the effort raised the possibility of mergers and branch closures.

Tucker, speaking at a banking conference, said it was “imperative we take the hard decisions now to adapt” business models.

Reporting by Tom Sims; Editing by Riham Alkousaa

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