HSBC to open 2 more branches in Punjab

To cater for NRIs from Punjab, Hong Kong and Shanghai Banking Corporation Ltd (HSBC) will soon open two more branches in the state, in Jalandhar and Amritsar.

Nicholas G Winsor, head, Personal Financial Services (India), stated this on his second visit to the city, after taking over this job in July 2004.

HSBC has two branches in the state, in Ludhiana (since 2002) and Chandigarh (since 2001). In north India, it has 11 branches.

Speaking to Business Standard, Winsor said HSBC, whose main focus area is western India, was now focusing on the north in a big way.

"North India is witnessing a major real estate boom and even the per capita income of people here is high. Punjab will be our major focus and that is why we will open two more branches."