HSBC banks on high growth figures

India is proving to be a success story for Hong Kong & Shanghai Banking Corporation (HSBC). For the financial year ending March 31, 2007, the company has recorded a jump of 64% in its profits at Rs.8.46 billion as compared to the previous year. All business lines of the bank have shown strong performance – contributing to the continuous surge in its profit figures. In India, which is among the top 10 contributors to the bank’s profits, the Group plans to pursue aggressive growth strategies. This claim has been made by none less than HSBC India Group GM & CEO Naina Lal Kidwai. During the year 2006-07, Rs.14.37 billion was infused in Indian branches of the bank.

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Source: IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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