The oldest foreign lender of the country, HSBC has decided to go slow in its retail and credit card businesses as it wants to lay its focus on global banking, investment banking, wealth management, insurance and mortgages.

"We will not chase retail customers till we turnaround our loss-making retail lending and credit cards businesses. We hope to do so by the end of the year," HSBC India Group General Manager and Country Head Naina Lal Kidwai said.

The bank has recently acquired the retail banking assets of Royal Bank of Scotland.

"HSBC won't go after customers to sell our retail banking or credit card products as that will impact the quality of our services, besides increasing our risk portfolio," Kidwai added.

Talking on the issue whether the bank plans to make an exit from credit card field, Kidwai said, "There is no such plan, but we will not be running after customers to sell a credit card or a personal loan. There is no plan whatsoever to discontinue this business, as we've a customer base of 1.5 million even today."

Explaining the reason for this go-slow approach, Kidwai said, "Our rapid expansion in the past has led to the growth of some riskier assets and we don't want to grow that way. In fact, we have been going slow on retail banking since the past four years or so, and by the end of 2010, we will have more good numbers to share on this front."