HSBC gets 22 ABN AMRO branches to boot

The HSBC buy transaction to facilitate RBS exit has been cleared by the Competition commission last week and was also cleared by RBI yesterday. The mysterious delay around the transaction arose fromt he RBI making it clear it could not transfer RBS/ABN AMRO branches directly to HSBC and had to separately get those branches with new permissions under the HSBC licence after RBS turns them over consequent to the approval of the transaction. However, all that paperwork might actually make sense in the long run and phew! HSBC won’t be compaining with 72 branches allowing to ramp up retail business which remains less than a third of the bank’s profit of $811 mln from india in 2011. The mint report on the completion “Central Bank clears HSBC deal..” was very clear on the flow  and was much better than suffering Tamal’s recent avatar and even the S&P analyst that did break the news about bank NPAs but did not really show any strength of analysis in there, taking the run off” kind of scenario for banking industry lookahead…

Advertisements

2 thoughts on “HSBC gets 22 ABN AMRO branches to boot

  1. Pingback: Bank Results Season: Taking a look at trading rebound vs commercial banking growth (HSBC Q1 2012) | The Banking and Strategy Initiative

  2. Pingback: Staying simple, being HSBC | Banking Insight | The Banking and Strategy Initiative

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s