Hsbc Holdings Plc Acquisition Of Rbs Businesses In India

2nd Jul 2010 10:00

Notes to editors: HSBC in India HSBC is one of India's leading banking and financial services institutions, with over 35,000 employees in its banking, investment banking and capital markets, asset management, life insurance, software development and global resourcing operations. In 2008, the HSBC Group acquired a majority stake in HSBC InvestDirect that has enabled it to offer retail brokerage services to its customers across a wider geography in the country. It also has a joint venture with two of India's leading public sector banks, establishing Canara HSBC Oriental Bank of Commerce Life Insurance Company in June 2008. HSBC's network in India comprises 50 branches of HSBC India, 80 branches and 147 franchisee outlets of HSBC InvestDirect and 31 offices of its 26 per cent held Canara HSBC Oriental Bank of Commerce Life Insurance Company. The Hongkong and Shanghai Banking Corporation Limited The Hongkong and Shanghai Banking Corporation Limited is the founding and a principal member of the HSBC Group which, with around 8,000 offices in 88 countries and territories and assets of US$2,364 billion at 31 December 2009, is one of the world's largest banking and financial services organisations. This information is provided by RNS The company news service from the London Stock Exchange END ACQVLLBBBDFLBBF (END) Dow Jones Newswires July 02, 2010 05:00 ET (09:00 GMT)