HSBC India today reported a 23 per cent jump in 2017 pre-tax profit at USD 916 million, helped by an all-round performance and lower tax budern.
HSBC India today reported a 23 per cent jump in 2017 pre-tax profit at USD 916 million, helped by an all-round performance and lower tax budern.
The British lender's domestic arm, which has announced a plan to almost halve its branch network here to 26, saw an improvement in profit from retail and wealth management verticals to USD 21 million from USD 15 million in 2016, it said on its website.
The corporate centre business saw the largest quantum of profit and also the highest growth at USD 374 million, up from USD 240 million in the previous year.
Global banking and markets group delivered profit to the tune of USD 362 million, marginally up from USD 355 million a year ago.
Its total tax outgo also went down to USD 297 million from the USD 315 million, boosting the bottomline.
The bank's gross loans and advances grew by over 5 per cent to USD 9.17 billion from USD 8.69 billion.
At the group level, the banking giant reported a pre-tax profit of USD 17.2 billion in 2017, which is way over the USD 7.1 billion in 2016.
