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…

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