HSBC has launched its Global Private Banking, or GPB, business in India to serve high-net-worth, or HNW, and ultra-high-net-worth, or UHNW, professionals, entrepreneurs and their families. The new business is aimed at clients with investable assets of more than $2M. India surpassed the UK as the world’s fifth largest economy in 2022 and is expected to overtake Japan and Germany by 2027-281. HSBC Group has also been strengthening its presence in India including acquiring L&T Investment Management Limited in 2022, now called HSBC Mutual Fund, and enhancing digital, payment, lending and international banking services, and providing life insurance services through its joint venture, Canara HSBC Life.
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