Hsbc India

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

HSBC India's pre-tax profits up 9.5 per cent to $561 million for H1 2020

There was a 67 per cent growth in the allowance for expected credit losses (ECL) to $82 million during the six months as compared with July-December 2019

Economic recovery in India hinges on moratorium duration: Chris Wood

Wood suggests that moratorium could trigger a consumer lending non-performing loans (NPL) cycle

Top headlines: India can give befitting response, says PM, and more

From US closely monitoring Ladakh border row to usage of dexamethasone to treat Covid-19, Business Standard brings to you a snapshot of the top events of the day

Covid-19 fallout: Airbus, Boeing results show turbulent times for aviation

Given the nationwide lockdown and weak travel sentiment, global aviation consultancy CAPA revised downwards estimates for India's air traffic for the for FY21 from 80 to 90 million to 55-70 million

HSBC India profit crosses $1 bn in 2019, third-most profitable in Asia

The global banking and markets segment contributed to $466 million in profits, against $387 million in 2018.