HSBC aims to open 35 branches in Japan and will expand there without acquisitions, according to the bank’s chairman Stephen Green.

Earlier this month HSBC stated that it plans to open branches in Tokyo, Osaka and other large cities in Japan to offer wealth management services from January next year, subject to regulatory approval.

HSBC began offering private banking in Japan in 1996 offering services to individuals with financial assets of more than 300 million yen ($2.6 million).