NEWS & ADVICE : PERSONAL LOAN
Restructuring of consumer banking in India: HSBC
By Vaibhav Aggarwal
Oct 31, 2012
Print    Email    RSS   

Hong Kong-Shangai Banking Corporation (HSBC) is looking forward to restructure its consumer banking business and wealth management of its India Operations, said a top Executive of the bank.

Mr. Gannesh Bharadwaj, head of retail banking and wealth management of HSBC said, "We have now tightened our credit standards and are using the credit bureau extensively". He further said, "The bank is now focusing on customers with deposits of over Rs 3 lakh, rather than going for mass customers, a move that did not go well with us in 2008".

HSBC has been cleaning its books since 2008, when its consumer banking business was facing loss on account of increasing bad loans.

The NPA stood at 0.62% in March 2012 and the retail banking business of HSBC recorded profit of Rs 383.63 crore at the end of March, 2012.

The bank has also set up customer value management cell. Mr. Bharadwaj said, "Globally, the retail banking business is being revamped. It is no more a product-driven approach. The 500 relationship managers will provide investment advice and also sell home and personal loans, credit cards and deposits".


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #3
Man caught for committing bank fraud
Personal Loan Vs. Cash advance from credit...
How far can new banking licenses be banked...
Loan against Securities: A viable...


DℰℒHI ℰscℴℝt ¶ +919999597304 !! Caℒℒ...
What is the outstanding Amount for my personal loan
ho many month balance in My Personal loan
i need my personal loan track statement

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive