August 26, 2016 6:11 AM ET

Banks

Company Overview of The Hongkong and Shanghai Banking Corporation Limited, India

Company Overview

The Hongkong and Shanghai Banking Corporation Limited, India provides personal and business banking products and services in India and internationally. It offers personal banking services, including savings accounts, fixed deposits, SmartMoney accounts, basic savings bank deposit accounts, demat accounts, and corporate employee programs, as well as debit cards; products for non-resident individuals; wealth management; online and self-service banking; premier products that provides personal support to help users to manage their personal economy; and private banking services that include wealth management and investment advisory services. It also provides corporate and institutional banking se...

52/60 Mahatma Gandhi Road

1st Floor

Mumbai,  400 001

India

Founded in 1853

Phone:

91 22 2267 4921

Fax:

91 22 2265 8309

Key Executives for The Hongkong and Shanghai Banking Corporation Limited, India

Chief Executive Officer
Managing Director, Head of Global Banking and Director
Chief Executive Officer of Asia Operations and Head of Latin America Operations
Age: 64
Executive Director and Chief Executive of HSBC Asia-Pacific
Age: 65
Deputy Chief Executive Officer for India
Compensation as of Fiscal Year 2016.

The Hongkong and Shanghai Banking Corporation Limited, India Key Developments

HSBC to Shut Down 24 Branches in India

The bank plans to consolidate to 26 branches in 14 cities across the country. At present HSBC India has 50 branches in 29 cities. The bank's review of wealth management business and retail banking shows that more and more customers now opt for digital banking services. As many as 300 employees (less than 1%) of its workforce will be affected by the bank's consolidation decision. The lists of branches to be shut down are: Delhi (two branches), Guwahati branch, Indore branch, Jodhpur branch, Kolkata (five branches), Mysore branch, Nagpur branch, Nasik branch, Pune (one branch), Raipur branch, Surat branch, Trivandrum branch, Vadodara branch and Vishakhapatnam branch.

HSBC India Announced The Result Of Strategic Review

The Hongkong and Shanghai Banking Corporation Limited, India announced the result of the strategic review of its Retail Banking and Wealth Management business in India. The company said, "Following a strategic review of its Retail Banking and Wealth Management (RBWM) business in India, HSBC today announced changes to its retail branch network in the country. The network will consolidate from 50 branches across 29 cities to 26 branches across 14 cities. This change reflects changes in customer behavior, who are increasingly using digital channels for their banking."

Hongkong and Shanghai Banking Corporation Limited Appoints Yogesh Aggarwal as India Research Head

Hongkong and Shanghai Banking Corporation Limited has announced the appointment of Yogesh Aggarwal as India research head. In this new role, he will oversee the day-to-day operations and manage the equity research products across all sectors for HSBC Securities in India. Yogesh is based out of Mumbai. Yogesh has been with HSBC for over seven years, covering the information technology (IT) and automotive sectors. Prior to joining HSBC, he worked with a multinational bank where he covered European software and IT services companies.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Bloomberg L.P. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact The Hongkong and Shanghai Banking Corporation Limited, India, please visit www.hsbc.co.in. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.