Kidwai Wants HSBC India to perform Better
By SiliconIndia | Thursday, 23 November 2006, 06:00 Hrs
Mumbai: HSBC India's Country Head Naina Lal Kidwai expects the India operations of the bank to contribute a greater share in its global profit pie. The bank's India operations have contributed $215 million during January-June 2006 whereas HSBC's operations in China, Brazil and the Middle East contributed over $300 million in the same period and those in Mexico, France and Canada reported profits over $500 million. Kidwai wants the India operations share in the profit pie to cross $300 million in the first half of 2007.
To achieve this mark, HSBC India has started to lend to the micro enterprises and also focused more on the personal loan segment and the small and medium enterprises. At the present, more than two-thirds of the bank's business comes from the corporate segment. The bank also intends to increase its credit card base to two million from the present 1.8 million.
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