Hong Kong bank launches private banking in Bangalore
Bangalore: The Hongkong & Shangai Banking Corporation (HSBC) on Thursday launched its private banking services, `Private Clients', at Bangalore. This service is targeted at clients with a minimum portfolio of Rs 75 lakh, offers investment advice, transaction execution, custodian and administration services, in addition to the existing personal banking services provided by HSBC in India. The service will be extended to Calcutta in May of this year and will be followed by Chennai and Hyderabad.

HSBC's global Internet banking, set up in association with IBM, is being test marketed at New Jersey, USA. In November 2000, it is going to be launched in India. The global Internet banking service will connect all countries where HSBC has its operations, according to sources in the bank. Internet banking will be followed with e-commerce services and in second quarter of 2001, HSBC plans to offer B2B services for exporters and importers.
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