HSBC's India PBT up 22% at $743 mn

Global banking giant HSBC’s profit before tax (PBT) from India rose 22 per cent to $473 million in the year ended December 2016, from $606 million in 2015. The tidy contribution by global banking and markets stream as well as the commercial banking segment supported the bottom line.

HSBC, which treats its Indian operations as a priority, saw global banking and markets report PBT of $355 million in 2016 from $321 million in 2015, according to HSBC Holdings Plc’s annual report for 2016.

Commercial banking activity contributed PBT of $123 million, sharply up from $79 million in 2015.

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