HSBC to relaunch India private banking business within a year -executive

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Reuters UK

By Nupur Anand MUMBAI (Reuters) – HSBC Holdings PLC plans to relaunch its India private banking business within a year, its India CEO told Reuters on Thursday, after the Asia-focused lender has identified the country as a key strategic market for growth. HSBC exited the Indian private banking business in 2015 as part of a group strategy. The lucrative but very competitive Indian market has few foreign players in a segment catering to high-net-worth individuals. The London-headquartered bank is preparing to relaunch the business in India at a time when its increasing its focus on Asia, which is…

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