HSBC India

By: EconomyWatch Content   Date: 30 October 2009

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 HSBC India is one of India’s leading foreign banks with a highly comprehensive range of financial solutions for corporate and commercial clients. The HSBC bank offers services pertaining to the following:

  • Banking

  • Insurance

  • Investment

  • Capital markets

  • Securities

  • Asset management

  • Equity management

HSBC India: Company Information

The roots of HSBC India are linked with the establishment of the Mercantile Bank of India, London and China in the year 1835 in Bombay (now Mumbai). During the first hundred years of its operations, the bank expanded in terms of business and reach. In 1959, The Hong Kong and Shanghai Banking Corporation Limited (HSBC) acquired the Mercantile Bank to form the HSBC.

The HSBC bank is one of the world’s largest financial groups with a solid presence in China, Europe and the United States. It has over 8,500 offices spanning 86 countries and lives up to its tagline as ‘the world’s local bank.’

In particular, HSBC India has operations across all major business centers. The 2008-09 financial data of the bank indicates that its total assets cross to over Rs. 94 crores. The bank’s total income is over Rs. 9 crores in the given financial year.

HSBC India: Products and Services

HSBC India was the first bank to introduce ATM services in the country in 1987.

As a banking subsidiary, the products and services available at HSBC India are:

Personal banking: Retail financial services include:

  • Deposits

  • Savings

  • Credit cards

  • Pension plans

  • Loans

NRI banking: The HSBC bank has a worldwide network that makes it popular with non-resident Indians. They can avail deposit products with a clear global access option. They can invest in Indian shares by building their portfolios.

Corporate banking: The HSBC bank has highly focused and dedicated corporate banking operations with services such as:

  • working capital finance

  • deposits

  • payments

  • syndications

  • cash management

Business banking: HSBC offers a Business Account and the Business Vantage Account for small and medium-sized businesses with services such as:

  • phone banking

  • doorstep banking

  • multi-branch banking services

The bank also offers institutional services, financial services and foreign exchange and fixed income derivatives in rupees and major currencies as well. With its 150+ ATM centers, mobile and online services with 24-hour customer support, HSBC is constantly endeavoring to offer new products and services.


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