Page 3 - Hsbc India

Global banks expand maternity benefits to retain women employees in India

India already mandates a minimum 26 weeks of maternity leave at full pay - among the most in the Group of 20 economies, according to the World Bank's Gender Data Portal

HSBC India's profit before tax rises nearly 19% to $766 mn from Jan-June

Foreign lender HSBC on Tuesday reported an 18.75 per cent growth in its profit before tax at USD 766 million from India operations in the first half of 2023. The lender, which has 26 branches in the country, had reported a Profit Before Tax (PBT) of USD 645 million in the January-June (H1) period last year. The global banking and markets vertical contributed the most to the profits, delivering a PBT of USD 408 million as against USD 324 million in the year-ago period. It was followed by the commercial banking side, where its PBT during the first half of 2023 rose to USD 209 million from USD 156 million. The corporate centre, which includes balance sheet and treasury management, witnessed a decline in the pre-tax profit to USD 114 million as against USD 132 million in the year-ago period. The wealth and personal banking vertical showed a marginal improvement in performance, with the PBT growing to USD 35 million from USD 33 million a year ago. The bank's overall wholesale lending

DBS Bank India appoints Rajat Verma as MD, Head of Institutional Banking

Rajat Verma will be taking over from Niraj Mittal, who will take charge as the country head of DBS Bank in Australia

HSBC India ropes in former India skipper Virat Kohli as brand influencer

Lender says it is keen to grow in India and has doubled down on the opportunities that the country has to offer

HSBC planning to add 30 private bankers in fresh India wealth push

HSBC's plans reflect an increasing competition to manage the growing wealth in India among both global and local firms, which has enticed the London-based bank

India's FY24 growth to dip to 5.5% from 6.8% in FY23, says HSBC economist

India's economy is expected to grow 5.5% in the next financial year, a notch below the expected potential rate of 6%, as growth momentum in the country was slowing gradually, an economist at HSBC said

HSBC says exploring sale of Canadian operations for latest disposal

A potential sale of HSBC's 100% equity stake in HSBC Bank Canada is among the options being explored, the lender said in a statement.

HSBC to relaunch private banking business within a year, says CEO

The lucrative but very competitive Indian market has few foreign players in a segment catering to high-net-worth individuals

HSBC to relaunch India private banking business within a year: Exec

HSBC will revive its private banking business by the end of this year, according to bank officials

India the place to be in now, says HSBC India CEO Hitendra Dave

'We are in growth, customer acquisition, and balance-sheet expansion mode'

HSBC India to lend $250 million to high-growth, tech-led startups

Foreign lender HSBC India on Monday announced that it will lend USD 250 million to startups in the country. The bank did not specify the timeframe for disbursal of the amount The lending will be done to high-growth, tech-led startups in the third largest startup ecosystem in the world, the lender said in a statement. The lending, which comes amid increased focus on startups' debt needs by financial intermediaries locally and a 'funding winter' impacting equity funding to the sector, will be managed by the lender's commercial banking vertical. The commercial banking vertical in India had witnessed a 42 per cent jump in its profit for 2021 at USD 265 million as against USD 187 million in the year ago period. Loans to small and medium enterprises tripled to USD 1 billion in 2021 as against USD 300 million in 2018, the bank said. "...we recognise the need for startups to access finance to support their growth ambitions and scale up their business. This segment is poised for significa

ADB and HSBC India establish $ 100 mn guarantee plan for microcredit

ADB and HSBC programme will help women running small businesses and microfinance institutions lending after the pandemic.

HSBC's profit before tax from India rises marginally to USD 1.11 bn

The country is the fourth biggest profit centre for the UK-headquartered lender, after Hong Kong, the UK and Mainland China, according to an official statement

HSBC says its profit tripled in 2021 to $12.6 billion, outlook 'good'

The bank sold its French retail business to American investment group Cerberus in June, marking another step in plans to focus on Asia and trim exposure to Europe and North America

HSBC names company veteran Hitendra Dave as CEO of India business

Hitendra Dave is a member of Reserve Bank of India advisory committees.

A global first: Tata Steel-HSBC do blockchain-enabled paperless trade deal

The live trade finance transaction involved export of steel by Tata Steel, India to Universal Tube & Plastic Industries, UAE

HSBC's India pretax profit in 2020 inches up to $1.02 billion

India is the third most profitable region for the lender after Hong Kong and mainland China

Analysts positive on retail sector post Reliance Retail-Silver Lake deal

With RIL's retail arm, Reliance Retail, sealing its first stake sale deal with Silver Lake, analysts see the sector consolidating yet growing going forward

HSBC values Info Edge's stake in Zomato at $1.1 billion; stock jumps 5%

HSBC Global Research, in its recent report, valued food delivery firm Zomato at $5 billion, a major increase from its earlier valuation of $3.5 billion

HSBC India comes up with green deposit programme for corporate clients

Under the scheme, deposits will be used to finance environment friendly projects