HSBC's Profit Surge: An India Success Story

HSBC reported a strong 11.27% growth in profit before tax from its Indian operations for 2024, with profits reaching USD 1.688 billion. The global banking and markets vertical was the main contributor, while the bank plans to expand with 20 new branches in India.

HSBC, a leading foreign lender, has declared an impressive 11.27 percent increase in profit before tax originating from its India operations, totalling USD 1.688 billion for the year 2024.

In 2023, the bank's India profit before tax was USD 1.517 billion across its 26 branches. The global banking and markets division was the primary profit driver with a pre-tax earnings of USD 875 million in 2024, up from USD 774 million the previous year.

The bank's commercial banking contributed USD 448 million in 2024, an increase from USD 398 million in 2023, while regulatory approval has been obtained to establish 20 additional branches in India, reinforcing HSBC's significant workforce of 44,000 in the country, its largest anywhere globally.