Read more about HSBC names company veteran Hitendra Dave as CEO of India business on Business Standard. Hitendra Dave is a member of Reserve Bank of India advisory committees.
India is the third-largest profit contributor for the HSBC Group after Hong Kong and mainland China and delivered a pre-tax profit of USD 1.024 billion in 2020.
Hitendra Dave to be the new Chief Executive Officer of HSBC India freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
MUMBAI: HSBC has retained its growth forecasts for India despite the second wave of Covid and has said that it intends to grow its business in the country. The bank, which has around 39,000 employees here, gets a big chunk of revenue from the country and sees it as the third-largest economy by 2030.
Speaking to TOI, HSBC India CEO Surendra Rosha said, “We do not see short-term challenges with regard to things related to Covid dislocating our strategy.” Even as multinational rivals like Citi have announced their exit from the consumer business in India amid the pandemic, HSBC has said that it is going the other way.