In September 2003 HSBC bought Polski Kredyt Bank SA of Poland for $7.8 million.[32] In June 2004 HSBC expanded into China buying 19.9% of the Bank of Communications of Shanghai.[33] In the United Kingdom HSBC acquired Marks & Spencer Retail Financial Services Holdings Ltd for £763 million in December 2004.[34] Acquisitions in 2005 included Metris Inc, a US credit card issuer for $1.6 billion in August[35] and 70.1% of Dar es Salaam Investment Bank of Iraq in October.[36] In April 2006, HSBC bought the 90 branches in Argentina of Banca Nazionale del Lavoro for $155 million.[37] In December 2007 HSBC acquired the Chinese Bank in Taiwan.[38] In May 2008, HSBC acquired IL&FS Investment, an Indian retail broking firm.[39]