<p>British banking major HSBC on Monday reported a 9.5 per cent increase in pre-tax profits from India operations at $561 million for the first half of 2020, helped largely by treasury income and balance sheet management.</p>.<p>This makes India the third most profitable market in which the lender operates.</p>.<p>The bank, which has 26 branches in the country, had posted a pre-tax profit of $512 million in the year-ago period and $494 million in the preceding H2 of 2019, it said in a statement.</p>.<p>In the January-June period, profits under the 'corporate centre' jumped 58 per cent to $160 million from $101 million in the year-ago period. The corporate centre line includes treasury income and balance sheet management, bank officials said.</p>.<p>Profits from the global banking and markets vertical increased to $313 million from $264 million, it said.</p>.<p>Both commercial banking and the wealth and personal banking verticals witnessed a dip in profits during the six-month period as compared to the year-ago period.</p>.<p>Commercial banking logged a 23 per cent fall to $83 million from $108 million, while on the wealth and personal banking side, it was a 87 per cent drop to $5 million from $39 million earlier.</p>.<p>The bank's overall wholesale lending book grew by over 6 per cent to $7,076 million as of June 30, from $6,657 million in December 2019.</p>.<p>In real estate, it reported a 12 per cent growth in the gross carrying amount at $1,761 million, while in non-banks financial institutions segment, there was a 16 per cent growth to $3,043 million.</p>.<p>There was a 67 per cent growth in the allowance for expected credit losses (ECL) to $82 million during the six months as compared with July-December 2019.</p>.<p>On the personal lending front, there was a 4 per cent de-growth in the amortised loans and advances at $1,509 million as of June 30 when compared with the same amount for December.</p>.<p>The unsecured credit card loans declined by nearly 6 per cent to $206 million.</p>.<p>The overall allowance for ECL on the personal loans front increased to $36 million from the immediate past six months' $26 million despite the dip in the overall book, it said.</p>.<p>The bank added over 3,000 new customer accounts during the last six months and the total stood at 18,047 as of June 30.</p>
<p>British banking major HSBC on Monday reported a 9.5 per cent increase in pre-tax profits from India operations at $561 million for the first half of 2020, helped largely by treasury income and balance sheet management.</p>.<p>This makes India the third most profitable market in which the lender operates.</p>.<p>The bank, which has 26 branches in the country, had posted a pre-tax profit of $512 million in the year-ago period and $494 million in the preceding H2 of 2019, it said in a statement.</p>.<p>In the January-June period, profits under the 'corporate centre' jumped 58 per cent to $160 million from $101 million in the year-ago period. The corporate centre line includes treasury income and balance sheet management, bank officials said.</p>.<p>Profits from the global banking and markets vertical increased to $313 million from $264 million, it said.</p>.<p>Both commercial banking and the wealth and personal banking verticals witnessed a dip in profits during the six-month period as compared to the year-ago period.</p>.<p>Commercial banking logged a 23 per cent fall to $83 million from $108 million, while on the wealth and personal banking side, it was a 87 per cent drop to $5 million from $39 million earlier.</p>.<p>The bank's overall wholesale lending book grew by over 6 per cent to $7,076 million as of June 30, from $6,657 million in December 2019.</p>.<p>In real estate, it reported a 12 per cent growth in the gross carrying amount at $1,761 million, while in non-banks financial institutions segment, there was a 16 per cent growth to $3,043 million.</p>.<p>There was a 67 per cent growth in the allowance for expected credit losses (ECL) to $82 million during the six months as compared with July-December 2019.</p>.<p>On the personal lending front, there was a 4 per cent de-growth in the amortised loans and advances at $1,509 million as of June 30 when compared with the same amount for December.</p>.<p>The unsecured credit card loans declined by nearly 6 per cent to $206 million.</p>.<p>The overall allowance for ECL on the personal loans front increased to $36 million from the immediate past six months' $26 million despite the dip in the overall book, it said.</p>.<p>The bank added over 3,000 new customer accounts during the last six months and the total stood at 18,047 as of June 30.</p>