Banking major HSBC on Tuesday said its India operation has reported an 8.4 per cent jump in the profit before tax for the fiscal year 2021 to $1.11 billion as against $1.024 billion in the previous fiscal.

Global banking and markets division contributed the largest chunk to the profit before tax of India operations in the fiscal year 2021 at $593 million, while commercial banking reported profit before tax of $265 million. The corporate centre reported a profit before tax of $232 million and wealth and personal banking a profit before tax of $20 million in the fiscal year 2021.

India was the fourth largest contributor to group profits, with Hong Kong, the UK and Mainland China being the top three contributors. India is one of the main employment centres with 38,000 employees, followed by the UK, Mainland China and Hong Kong. At December 31, 2021, HSBC had a total workforce equivalent to 2,20,000 full-time employees.

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