UK Markets closed

HSBC chair says European banks must become more efficient

Mark Tucker Chairman of HSBC arrives at 10 Downing Street in London
Mark Tucker Chairman of HSBC arrives at 10 Downing Street in London

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)