The London-based bank will cut 24 of its 50 branches as it seeks “the right mix of digital versus physical branch distribution,” according to an e-mailed statement on Thursday. The outlets to be closed account for less than 10 percent of HSBC’s retail customer base in India, the lender said in the statement.
Chief Executive Officer Stuart Gulliver is paring back HSBC’s sprawling global network and shutting money-losing businesses to improve earnings hurt by compliance costs. Since 2011, the...
HSBC to Close Half of India Branches in Digital Banking Push
Chief Executive Officer Stuart Gulliver is paring back HSBC’s sprawling global network and shutting money-losing businesses to improve earnings hurt by compliance costs. Since 2011, the...
HSBC to Close Half of India Branches in Digital Banking Push