In an oft repeated saga in India, HSBC walked away with $2.5 billion of crown jewels, paying $95mn for the net assets in premium. HSBC has not yet got any licences from RBI for the new branches added to its portfolio.  Though the bank had a not so significant presence in India, its goodwill is positive and it has some great retail accounts in this country of 130000 owners of INR 50 million and more in assets.

HSBC and Stanchart had been negotiating for RBS assets in Asia but India had come unstuck because of RBI restrictions. Also, Stan Chart never wanted any of the China assets.

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