HSBC all set to re-enter the unsecured loan segment

HSBC India is all set to re-enter the unsecured retail loan segment. For past two years the bank slowed down its operations in this section.

The CEO of HSBC India, Mr. Stuart Davis said, “We will offer unsecured personal loans selectively to our customers and not in the open market as we did earlier.”

He also said “Winding down of the unsecured loan book and recoveries in corporate loans helped improve the asset quality.”

The bank will acquire the retail and commercial businesses of Royal Bank of Scotland by the end of this year. “We are expecting a robust loan growth and will continue to build our wealth management platform for increasing our customers,'' Davis said.

IOB plans for agri-jewel loan scheme in urban areas

Indian Overseas Bank is going to introduce the agri-jewel loan scheme to the urban areas. The scheme has received a very good response in the rural parts and this has prompted the bank to introduce the scheme in the urban areas also.

The bank is planning to open a separate desk for such loans in 25 branches across the country. The bank has also ensured that the interest rates will be considerably lower than those offered by the private banks.

The Chairman and Managing Director of the bank Mr. M Narendra said “Enthused by the agri-jewel loan in rural areas, we thought of capitalising [on] it in urban areas also. We are opening [a] separate desk for gold loans in 25 branches. With this, we will be able to provide very fast gold loan to urban customers also.”