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.
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