New Delhi, February 25 HSBC India announced on Wednesday an 11 per cent increase in profit before tax (PBT) to USD 1.9 billion (approximately Rs 17,000 crore) for the fiscal year 2025.
The subsidiary of UK-based HSBC Plc earned a profit before tax of USD 1.7 billion in the previous year.
India is the second-largest contributor in Asia to the group's profit after Hong Kong.
During the year, the corporate and institutional banking segment, including cross-border transaction banking and capital markets, contributed the highest USD 1.5 billion to India's PBT.
"In India, we reported a profit before tax of USD 1.9 billion and remained the largest foreign bank. We are the leading bank for multinational companies, with approximately 50 per cent of them banking with us," according to the annual report released by HSBC Plc.
The bank launched HSBC Innovation Bank with a USD 1 billion financing pool and introduced new digital propositions in payments and trade.
During the year, the bank expanded to four new cities with wealth and international potential, remained the top wealth manager across foreign banks, and was the first bank to launch international wealth solutions in GIFT City.