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HSBC Targets India's Affluent: Big Push for Wealth Management and Global Connectivity
M
Moneycontrol•28-09-2026, 07:44
HSBC Targets India's Affluent: Big Push for Wealth Management and Global Connectivity
- •HSBC is challenging Indian private-sector banks by targeting affluent customers and globally connected citizens to fuel its growth in India.
- •The London-based lender is focusing on wealth, transaction banking, and "globality" to leverage its international network for cross-border clients.
- •HSBC aims to be among the top four or five private banks in India by 2030, expanding its wealth management business beyond metro cities.
- •The bank plans to increase its branch network from 34 to 46 across 34 cities in India over the next two years, reaching smaller locations.
- •HSBC is deepening relationships with wealthy clients through premium credit cards and large-ticket mortgages, with its mortgage book tripling in four years.
Key Questions Answered
HSBC's India chief executive officer, Hitendra Dave, stated that the bank's ambition is to become one of the top four or five private banks in India by 2030.
The UK lender plans to expand its network from 34 branches currently to 46 branches across 34 cities in India over the next two years.
HSBC emerged as the biggest lender to India's vast diaspora under the special foreign-exchange swap program, successfully disbursing $10.9 billion from GIFT City in three months.
