HSBC runs one of the largest international banking franchises in India, serving wealth clients, corporates and institutional investors. Its India operations span banking, capital markets, asset management, insurance, software development and global resourcing. The bank also runs large technology and global capability centres that support the group worldwide.
Ownership and structure
HSBC operates in India as a foreign bank through branches of The Hongkong and Shanghai Banking Corporation Limited, alongside subsidiaries in asset management, securities, technology and global capability centres.
What India does for HSBC
India is HSBC's largest country by headcount, serving as a wealth and corporate banking market and a technology and capability centre base for the group.
Investment and deals
HSBC acquired L&T Investment Management in November 2022 in a deal valued at US$425 million, with Rs 3,485 crore paid to the seller.
HSBC's India business
HSBC traces its India origins to 1853 and is regulated by the Reserve Bank of India as a foreign bank. In January 2025 the RBI approved 20 new HSBC branches, adding to a network of 26 branches across 14 cities.
India is HSBC's largest country by headcount, with about 44,000 employees in 2025. HSBC completed its acquisition of L&T Investment Management in 2022.
Its technology teams are based in Pune, Hyderabad and Bengaluru, with global capability centres in Hyderabad, Bengaluru, Chennai, Kolkata and Gurugram.
Key moves in India
- 1853: HSBC traces its India origins to the founding of the Mercantile Bank of India, London and China.
- 2022: HSBC completed its acquisition of L&T Investment Management on November 25.
- 2023: HSBC launched Global Private Banking in India.
- 2025: The Reserve Bank of India approved 20 new HSBC branches in January, adding to 26 branches in 14 cities.
Where it operates
HSBC runs its India business from Mumbai. It also has a presence in Bengaluru, Hyderabad, Pune, Chennai, Kolkata, Gurugram and Vadodara.
At a glance
- Home country: United Kingdom
- Global headquarters: London
- Sector: Banking & Financial Services
- Business: Banking
- Role of India: Sales market, Global delivery and operations, R&D and engineering hub, Financial services franchise
- India entity: The Hongkong and Shanghai Banking Corporation Limited, India
- India head office: Mumbai
- India offices: Mumbai, Bengaluru, Hyderabad, Pune, Chennai, Kolkata, Gurugram, Vadodara
- India headcount: 44,000+ (2025)
- In India since: 1853
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