Retail charge: HSBC banks on NRI, wealth management

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SynopsisIndia CEO Surendra Rosha said the bank will enhance its product capabilities and invest in digitisation of its retail offering as it seeks a turnaround in the business.Hong Kong and Shanghai Banking Corp Ltd (HSBC), Europe’s largest lender with close to $3 trillion in assets, plans to step up on its retail business in India…

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Synopsis

India CEO Surendra Rosha said the bank will enhance its product capabilities and invest in digitisation of its retail offering as it seeks a turnaround in the business.

Hong Kong and Shanghai Banking Corp Ltd (HSBC), Europe’s largest lender with close to $3 trillion in assets, plans to step up on its retail business in India to tap the increasing non resident Indian (NRI) segment and also the growth in wealthy clients, five years after shuttering its private banking business and cutting its branches by half.

India CEO Surendra Rosha said the bank will enhance its product capabilities and invest in digitisation

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ET Bureau

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