NEWS & ADVICE : PERSONAL LOAN
HSBC India books 33% rise in profits till now
By Vaibhav Aggarwal
Aug 3, 2011
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Foreign lender HSBC has booked 33% increase in its gross profits for its Indian operations for the first half of this fiscal.

The rise in profits could majorly be attributed from segments like commercial banking, global banking and markets segments.

Indian operations contribute to 4% of the total profits of the bank.

However, the lender has experienced a flat growth in loan book.

"The loan growth was flat because there was high demand for External Commercial Borrowings from our corporate clients and these are booked offshore in our overseas book," said Mr Stuart Davis, Chief Executive Officer, HSBC India.


 


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