HSBC India profit up 30% in FY12

Written by fe Bureau | Mumbai | Updated: Jun 30 2012, 06:28am hrs
HSBC India reported a net profit growth of 30% to R1,988 crore for the financial year 2011-12. The advances book of the bank stood at R35,512 crore, up 30% from R27,401, while deposits increased by 13% to R61,423 crore.

Casa ratio of the bank stood at 47%, and the credit to deposit ratio was at 58%.

The revenues of HSBC India grew at 18%, a faster pace than costs, supported by sound cost management practices, leading to an improvement in the cost efficiency ratio to 40% from 42% in the prior year. Operating expenses growth of 10% represents the banks investment in its systems and brand in India, which remains a strategic priority for HSBC, the bank said in a statement.