It is perhaps the phase where most of the sectors are up for consolidation in the Indian market with Banking being at the top list of India Inc.
After a host of announcement already made in the sector in 2010, the latest comes as the UK-headquartered Hongkong and Shanghai Banking Corporation (HSBC) has agreed to acquire The Royal Bank of Scotland (RBS) Group Plc’s retail and commercial banking businesses in India.
Notably, the banking giant has agreed to pay a premium of up to $95 million for RBS’ retail, commercial businesses in the country.
It is believed that as it comes with a gross asset value of $1.8 billion (nearly Rs 8,400 crore) and have 1.1 million customer relationships, served by over 1,800 staff through 31 branches currently, the purchase will bring a lot of synergies for HSBC in the Indian market.
HSBC Group Chief Executive Michael Geoghegan said as the company is focusing on growing in the emerging markets, it is no surprise that it is the third deal by the company in various emerging markets over the past two
It is perhaps the phase where most of the sectors are up for consolidation in the Indian market with Banking being at the top list of India Inc.
After a host of announcement already made in the sector in 2010, the latest comes as the UK-headquartered Hongkong and Shanghai Banking Corporation (HSBC) has agreed to acquire The Royal Bank of Scotland (RBS) Group Plc’s retail and commercial banking businesses in India.
Notably, the banking giant has agreed to pay a premium of up to $95 million for RBS’ retail, commercial businesses in the country.
It is believed that as it comes with a gross asset value of $1.8 billion (nearly Rs 8,400 crore) and have 1.1 million customer relationships, served by over 1,800 staff through 31 branches currently, the purchase will bring a lot of synergies for HSBC in the Indian market.
HSBC Group Chief Executive Michael Geoghegan said as the company is focusing on growing in the emerging markets, it is no surprise that it is the third deal by the company in various emerging markets over the past two
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