Mike Geoghegan, the chief executive of HSBC, has said that the British lender is contented with its stake in the China's Bank of Communications.

Mike Geoghegan’s followed media reports, saying HSBC wanted to acquire a majority stake in one of China’s leading three banks.

HSBC possesses just below 20 per cent of stake in China's Bank of Communications.

According to the Chinese investment regulations, foreign banks can not own more than 20 per cent stake in Chinese banks.

Speaking on the issue, Mike Geoghegan said, "We are not talking to Beijing about an increase in our investment at the current time over the 20 percent.”

Mike Geoghegan was speaking in an interview on CNBC.

Mike Geoghegan declined to straightly comment on lender’s interest in one of China’s top three banks, but he said that Bank of Communications was British bank’s primary investment in China.