Archive · 16 Dec 2025
HSBC India Plans Expansion with RBI Approval
HSBC India wants to grow bigger by opening 20 new branches.
The bank got permission from the Reserve Bank of India (RBI) to do this.
The new branches will be in cities where many people are getting richer and where there are lots of factories.
HSBC's boss, Hitendra Dave, wants the bank to become one of the top five private banks in India.
They are also focusing on giving out more credit cards and loans to rich people.
HSBC is one of the few foreign banks still doing well in India, and they are investing in new technology and hiring young people to help them grow.
HSBC India received RBI approval to open 20 new branches, expanding to 46 branches total.
The new branches will be in cities with growing wealth and significant manufacturing capabilities.
HSBC aims to become the fifth largest private sector bank in India, focusing on wealth and consumer businesses.
The bank has 954,431 credit cards in India, with an average spend of ₹17,477.5 per card in October.
HSBC is investing in technology and hiring young engineering graduates to drive future growth.
- Who
- HSBC India, led by CEO Hitendra Dave
- What
- Plans to expand with 20 new branches approved by RBI
- When
- Expansion ongoing, first new branch opened in December
- Where
- Cities including Lucknow, Amritsar, Bhopal, Bhubaneswar, Dehradun, and Vadodara
- Why
- To regain market share and become the fifth largest private sector bank in India
- New Branches Approved
- 20
- Cities for Expansion
- Lucknow, Amritsar, Bhopal, Bhubaneswar, Dehradun, Vadodara
- Current Branch Count
- 46 (after expansion)
- Target Growth
- Fifth largest private sector bank in India
- Non-Priority Sector Retail Loans
- ₹23,123 crore (as of 31 March)
- Credit Cards Issued
- 954,431 (as of October)
- Average Credit Card Spend
- ₹17,477.5 (October)
- Industry Average Credit Card Spend
- ₹18,784.4 (October)