HSBC eyes 20% of its biz from insurance

HSBC at the group level and also in India is looking to generate at least 20% of its total business from the insurance sector, revealed HSBC India CEO and group general manager Naina Lal Kidwai, at a media meet in Mumbai on Thursday. The unsecured lending portfolio of HSBC in India had dipped by 8% in the past 12 months, she added while announcing renaming of the bank s acquired securities brokerage arm, ILandFS Investsmart, as HSBCInvestDirect. She said, The credit off-take in the Indian banking sector is likely to get led by the infrastructure sector, as well as rise in ...

More...