Foreign lender HSBC on Monday reported a 22 percent increase in its pre-tax profit from its Indian operations to $644 million for the January-June 2022 period.
HSBC India had a pre-tax profit of $529 million in the same period last year, the bank said in a statement.
The Global Banking and Markets business, which supports the lending needs of Indian companies with a global footprint and also includes the Debt and Equity Capital Markets team, reported a profit of $324 million for Jan-June 2022 versus $317 million year-ago .
Commercial Banking PBT was $156 million versus $146 million for the period and Wealth and Personal Banking blacked out at $33 million PBT versus a loss of $11 million.
The Corporate Center, which includes balance sheet and treasury management, saw PBT increase to $131 million from $77 million in the year-ago period.
In a statement, the bank said it has aggressive growth plans and is focused on customer acquisition and growth in both assets and liabilities and will focus on growth in the retail and small business segments.
India remains the fourth-biggest contributor to the banking group, behind Hong Kong ($2.489 billion), the UK ($2.27 billion) and mainland China ($1.94 billion), it said.
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