HSBC chair says European banks must become more efficient

FRANKFURT (Reuters) – The chairman of HSBC , 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)