Study on Hsbc Bank

8/8/2019 Study on Hsbc Bank

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The world's local bank

CHAPTER 1

INTRODUCTION OF BANKING SECTOR

Financial sector reforms were initiated as part of overall economic reforms in the country andwide ranging reforms covering industry, trade, taxation, external sector, banking and financialmarkets have been carried out since mid 1991. A decade of economic and financial sector reforms has strengthened the fundamentals of the Indian economy and transformed the operatingenvironment for banks and financial institutions in the country. The sustained and gradual paceof reforms has helped avoid any crisis and has actually fuelled growth. As pointed out in the RBIAnnual Report 2001-02, GDP growth in the 10 years after reforms i.e. 1992-93 to 2001-02averaged 6.0% against 5.8% recorded during 1980-81 to 1989-90 in the pre-reform period. Themost significant achievement of the financial sector reforms has been the marked improvementin the financial health of commercial banks in terms of capital adequacy, profitability and assetquality as also greater attention to risk management. Further, deregulation has opened up newopportunities for banks to increase revenues by diversifying into investment banking, insurance,credit cards, depository services, mortgage financing, securitization, etc. At the same time,liberalization has brought greater competition among banks, both domestic and foreign, as wellas competition from mutual funds, NBFCs, post office, etc. Post-WTO, competition will only getintensified, as large global players emerge on the scene. Increasing competition is squeezing

profitability and forcing banks to work efficiently on shrinking spreads. A positive fallout of competition is the greater choice available to consumers, and the increased level of sophisticationand technology in banks. As banks benchmark themselves against global standards, there has

been a marked increase in disclosures and transparency in bank balance sheets as also greater focus on corporate governance.

Origin and development of the bankingThe origin of banking in India is traceable in ancient time through the modern banking hardly200 Years old. The main functions of a bank are to accept deposits and grant loans . There areevidences of these functions being performed by a section of the community in the Vedic

periods. There are many References of Debt in the Vedic Literature. During the Ramayana andMahabharata eras banking, which was a side businesses during the Vedic period, became a full-time business activity for the People. During the Smriti period, which followed the Vedic periodand the Epic age, bankers performed the functions of the modern banks. The banking businesswas carried on by the members of the Vaish Community and Manu speaks of earning throughinterest as the business of Vaishyas.

BANKING SECTOR IN INDIA

Scheduled Banks in India

(A) Scheduled Commercial Banks

Public sector Banks Private sectorBanks

Foreign Banksin India

Regional RuralBank

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(28) (27) (29) (102) Nationalized

Bank Other Public

Sector Banks(IDBI)

SBI and itsAssociates

Old PrivateBanks

New PrivateBanks

(B) Scheduled Cooperative Banks

Scheduled Urban Cooperative

Banks (55)

Scheduled State Cooperative

Banks (31)

Here we more concerned about private sector banks and competition among them. Today, thereare 27 private sector banks in the banking sector: 19 old private sector banks and 8 new privatesector banks. These new banks have brought in state-of-the-art technology and Aggressivelymarketed their products. The Public sector banks are Facing a stiff competition from thenew private sector banks. The banks which have been setup in the 1990s under the guidelinesof the Narasimham Committee are referred to as NEW PRIVATE SECTOR BANKS.

New Private Sector Banks

Superior Financial Services Designed Innovative Products Tapped new markets Accessed Low cost NRI funds Greater efficiency

INDIAN BANKING SECTOR

The Indian banking market is growing at an astonishing rate, with Assets expected to reachUS$1 trillion by 2010. An expanding economy, middle class, and technological innovationsare all contributing to this growth.The countrys middle class accounts for over 320 million

people.

In correlation with the growth of the economy, rising income levels, increased standard of living, and affordability of banking products are promising factors for continued expansion.

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The Indian banking Industry is in the middle of an IT revolution, Focusing on theexpansion of retail and rural banking. Players are becoming increasingly customer -centric in their pproach, which has resulted in innovative methods of offering new banking

products and services. Banks are now realizing the importance of being a big player and are beginning to focus their attention on mergers and acquisitions to take advantageof economies of scale and/or comply with Basel II regulation.

Indian banking industry assets are expected to reach US$1 trillion by 2010 and are poised toreceive a greater infusion of foreign capital, says Prathima Rajan , analyst in Celent's bankinggroup and author of the report. The banking industry should focus on having a smallnumber of large players that can compete globally rather than having a large number of fragmented players."

Growth and present status of the banking sectorCommercial banking can also refer to a bank or a division of a bank that mostly deals withdeposits and Loans from corporations or large businesses, as opposed to normal individualmembers of the public (Retail banking). As in the Indian banking The most prominent on our minds in the context of banking these days, perhaps, are the implications arising out of the BaselII accord. Banks, as we all know, are Subjected to more intense regulation as compared to thenon-financial firms. This is probably because the banks possess certain 'special' characteristics:Banks are much more leveraged than the other Firms due to their capacity to garner publicdeposits. The asset - liability structure of the banks is also different from not only the non-financial firms but also the financial firms. To illustrate, the risk in an Insurance company arisesmainly from the liability side of the balance sheet in the form of insurance claims whereas for the

bank the risk mainly comes from the diminution of asset values (for example, illiquid loans thatare not fully recoverable).

Future of the industry

Reflecting on future prospects in banking, immediate focus has to be on the cleaning up of theremnants of undercapitalized banks, while concentrating on improvements in the rural co-operative credit system. In the banking system as a whole, a healthy credit culture encompassingappropriate pricing, quality of service, financial inclusion and contract-enforcement would bevital. The Reserve Bank of India has, in the service of our country, a proven track record and

professionalism, which have lent it considerable credibility - both domestically and globally.This credibility enables the RBI to confidently carry the reforms forward to credibly maintain

price and financial stability, while enabling self-accelerating equitable growth at elevated levels

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CHAPTER 2

ABOUT HSBC BANK

Headquartered in London, HSBC is one of the largest banking and financial services

organisations in the world. HSBC's international network comprises around 9,500 offices in 86countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East andAfrica.

With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges,around 200,000 shareholders in some 100 countries and territories hold shares in HSBCHoldings plc. The shares are traded on the New York Stock Exchange in the form of AmericanDepositary Receipts.

Through an international network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal

financial services; commercial banking; corporate, investment banking and markets; private banking; and other activities.

The HSBC Group has an international pedigree, which is unique. Many of its principalcompanies opened for business over a century ago and they have a history, which is rich invariety and achievement. The HSBC Group is named after its founding member, The Hong Kongand Shanghai Banking Corporation Limited, which was established in 1865 to finance thegrowing trade between China and Europe.

A visual record of the Group's history, the History Wall, was developed for the Group'sheadquarters in London. Through 3,743 images, the History Wall captures HSBC's rich and

fascinating pedigree.

HSBCS Principles and Values

The HSBC Group is committed to five core business principles:

Outstanding customer service; Effective and efficient operations; Strong capital and liquidity; Prudent lending policy; Strict expense discipline;

Our business principles are supported by loyal and committed employees who make lastingcustomer relationships and international teamwork easier to achieve.

HSBC also operates according to certain key business values:

The highest personal standards of integrity at all levels; Commitment to truth and fair dealing;

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Hands-on management at all levels; Commitment to quality and competence; A minimum of bureaucracy; Fast decisions and implementation; Putting the teams interests ahead of the individual's; The appropriate delegation of authority with accountability; Fair and objective employer; A diverse team underpinned by a meritocratic approach to recruitment/selection/promotion; A commitment to complying with the spirit and letter of all laws and regulations wherever we

conduct our business; the exercise of sustainability through detailed assessments of lending proposals and investments, the promotion of good environmental practice and sustainabledevelopment, and commitment to the welfare and development of each local community.

HSBCs reputation is founded on adherence to these principles and values. All actions taken by amember of the HSBC Group or staff member on behalf of a Group company should conform tothe principles and values. Additionally, we have codes of conduct for staff in all operations.

Many areas of sustainability provide opportunities to collaborate with other financial servicesorganizations through international commitments to establish best practice.

Group structure

HSBC Holdings is a public limited company incorporated in England and Wales.

Headquartered in London, the HSBC group operates in five regions: Europe; Hong Kong; therest of Asia Pacific; including the Middle East and Africa; North America; and South America.

The entities, which form the HSBC GROUP, provide a comprehensive range of financialservices to personal, commercial, corporate, institutional and investment, and private bankingclients. To more easily promote the Group as a whole, HSBC was established as a uniform,international brand name in 1999. In 2002, HSBC launched a campaign to differentiate its brandfrom those of its competitors by describing the unique characteristics, which distinguish HSBC,summarized by the words 'The world's local bank'.

References to HSBC on this website refer to the HSBC Group of discrete legal entities, each of which is wholly or partly owned by HSBC Holdings plc. HSBCs largest and best-knownsubsidiaries and their primary areas of operation are:

Subsidiary Primary area of operation

The Hong kong and Shanghai BankingCorporation Limited

Hong Kong SAR, with an extensive network throughout Asia-Pacific.

Hang Seng Bank Limited Hong Kong SAR

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Subsidiary Primary area of operation

HSBC Bank plc United Kingdom

HSBC France France

Household International, Inc. US

HSBC Bank USA N.A. New York State in the US

HSBC Bank Brazil S.A.- Banco Mltiplo Brazil

HSBC Private Banking Holdings (Suisse) S.A.Switzerland, Hong Kong SAR, Monaco,Luxembourg, United Kingdom, Singapore and theChannel Islands.

Grupo Financiero HSBC, S.A. de C.V. Mexico

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COMPANY PROFILE

The Hong Kong and Shanghai Banking Corporation Limited (HSBC),

The antecedents of the HSBC Group in India can be traced back to October 1853 when the Mercantile

Bank of India, London and China were founded in Bombay (now Mumbai). Starting with an authorizedcapital of Rs 5 million, the Mercantile Bank soon opened offices in London, Madras (Chennai), Colomboand Kandy, followed by Calcutta(Kolkata), Singapore, Hong Kong, Canton(Guan chow) and Shanghai by1855. The following hundred years were in many ways propitious for the Mercantile Bank. In 1950 itmoved into its new head office building in Mumbai at Flora Fountain.

The acquisition in 1959 by The Hong Kong and Shanghai Banking Corporation Limited of the MercantileBank was a decisive factor in laying the foundation for today's HSBC Group. Founded in 1865 to servethe needs of the merchants of the China coast and finance the growing trade between China, Europe andthe United States, HSBC has been an international bank from its earliest days.

The bank has since, steadily grown in reach and service offerings, keeping pace with the evolving banking and financial needs of its customers. In India, the bank offers a comprehensive suit of worldclass products and services to its corporate and commercial banking clients as also to a fast growing

personal banking customer base. The HSBC group is one of the largest banking and financial servicesorganization in the world. The group has over 10000 offices in 83 countries and territories in Europe, theAsia pacific region, the Americas, the Middle East.

After The Hong Kong and Shanghai Banking Corporation acquired the Mercantile Bank, the FloraFountain building became and remains to this day, the Head Office of the HSBC Group in India.

Through the 1990s, HSBC has vigorously developed its role as one of the leading banking and financialservices organizations in the world. Its strategy of 'managing for value' emphasizes the Group's unique

balance of business and earnings between older, mature economies and faster-growing emerging markets.

HSBC in India is proud to have retained the Group's pioneering streak by being an active partner in thedevelopment of the Indian banking industry - even giving India its first ATM way back in 1987. Theorganizations adaptability, resilience and commitment to its customers have further enabled it to survivethrough turbulent times and prosper through good times over the past 150 years.

HSBC holdings plc is one the largest banking group in the world, ranked the fifth largest company. Itshead office is located in the HSBC tower in Londons Docklands. The group is the named after itsfounding member, the Hong Kong and Shanghai banking corporation, a bank established by ThomasSutherland, a Scot to finance British trade in far east1865. The bank is second largest corporation in theworld in term of assets; it reports its results in United States dollars since 80% of its earning come fromoutside the United Kingdom. Nearly 22% of its earning from operations. The HSBC logo, known asHexagon, is derive from HSBC s19th century house flag itself derive from Scottish flag which is theangular cross that Saint Andrew (patron saint of Scotland) was crucified upon. As of 2005 the than CEOMichael was earning over 1millon US dollar Per year. Sir John Bond who retired in 2006 was earning amassive 1.8 million US dollar HSBC made record profits in 2004-2005 year earning over 12 billion GBPor more than 20 billion US dollar. This money is than kept at top of the company for paying its fat catCEO and board of directors.

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HSBC Group entities in India

The Hongkong and Shanghai Banking Corporation Limited (HSBC) HSBC Asset Management (India) Private Limited

HSBC Global Resourcing / HSBC Electronic Data Processing (India) Private Limited HSBC Insurance Brokers (India) Private Limited HSBC Operations and Processing Enterprise (India) Private Limited HSBC Private Equity Management (Mauritius) Limited HSBC Professional Services (India) Private Limited HSBC Securities and Capital Markets (India) Private Limited HSBC Software Development (India) Private Limited

Board of DirectorsThe Board of Directors of HSBC Holdings plc

S K Green, Group Chairman Age 60.

M F Geoghegan, CBE, Group Chief Executive Age 55.

COMMERCIAL BANKING

Personal bankingHSBC offers a wide range of personal financial services, including personal lending and deposit products,through its branch network in Ahmedabad, Bangalore, Chennia, Chandigarh, Coimbatore, Gurgaon,Hyderabad, Jaipur, Kochi, Kolkata, Luidhaina, Mumbai, New Delhi, Noida, Thane, Trivandrum andVisakhapatnam. Also offered branch-wide are international gold and Classic credit cards from VISA and

Master Card and debit cards from Visa. Customers have access to 24-hour banking services through anextensive network of automated teller machines (ATMs), an integrated Call Centre and Internet banking-online@hsbc .

Non Resident Indian bankingHSBCs Non Resident Indian Banking (NRI) centers located in Asia-Pacific, Middle East, Europe and

North America, together with HSBCs offices worldwide, provides the international Indian Diasporaaccess to a range of products and services, these include NRI related investment (both international and

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domestic), transactional and deposit products, together with a full range of personal and private banking products in India and overseas. Internet banking also provides easy access to HSBCs services.

Financial Planning servicesServices include investment and custodian management and access to stock broking and insuranceservices, which are offered to resident as well as non-resident Indians.

Corporate BankingHSBC has well-established long-term corporate banking relationships with large domestic Indiancorporations and financial multinationals operating in India. Services include term and working capitalfinance, trade facilities, corporate deposits, syndications, payments and cash management services andfactoring.

Business BankingHSBCs Extra Mile Business banking offers two types of account to small and medium-sized businesses -The Business Account and Business Vantage Account. The services include Business Phone Banking,Business Doorstep banking and Multi Branch Business Banking.

Payments and Cash ManagementHSBC provides integrated domestic and regional transaction support to corporate clients through asophisticated range of cash management solutions, including collection and payment services andintegrated with customer with customer back-end systems. Operations and client services are ISO 9001certified. Hexagon, the HSBC Groups dedicated electronic banking service allows users to performfinancial transactions, obtain international financial markets information, and review details of their domestic and international accounts from anywhere in the world, 24 hours a day.

Trade (international and domestic) and factoring servicesA wide range of solutions tailored to meet customers requirements for both domestic and international

businesses is offered. HSBC is also one of the leading banks involved in the billion businesses through itsoffices in Ahmadabad, Bangalore, Chennai, Chandigarh, Hyderabad, Mumbai, and New Delhi and is

supported by the Groups global expertise in the precious metal business. HSBXC is the leading provider of trade services in India and its trade centers are ISO 9002 certified.

Institutional BankingWorking closely with Group offices in India and overseas, trade services, payments and cashmanagement, treasury and capital markets, custody and clearing and correspondent and electronic

banking activities are offered to banks, financial institutional, securities houses, insurance companies,asset management companies and other non-banking companies, non-government and developmentorganizations operating in India.

Treasury and Capital marketsClients consistently rate HSBCs treasury business as on of the best in India. Its dealing room in Mumbaiis one of the largest in the Country, serving clients in Mumbai and in the major metropolitan center acrossthe country. It provides a comprehensive range of products which include- foreign exchange, moneymarket and fixed income products and derivatives n both rupees and major currencies.

Custody and clearingThe leading custodian in Asia, HSBCs custody and clearing services are available in 28 markets in Asia-Pacific and Middle East. With experienced staff and the latest technology, HSBC is the premier provider f sub-custodian and clearing services to foreign institutional investors (FIIs) in India. HSBC clients includethe domestic fund management sector in both the retail and institutional segments. Institutional FundServices launched by the bank offers a comprehensive suite of products to domestic mutual funds and

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insurance companies ranging from custody, fund administration services, unit distribution and cashmanagement services.

Asset ManagementHSBC Asset Management (India) Private Limited offers mutual funds to its customers. With the Groupsglobal fund management expertise and investment capabilities, it is able to deliver quality products tocustomers investment objectives.

Global ResourcingHSBC Electronic Data Processing (India) Private Limited, through its offices in Hyderabad, Bangaloreand Visakhapatnam provides data processing/ customer service facilities for the HSBC Groups overseasoperations.

Data Processing

HSBC Operations and Processing Enterprise (India) Private Limited, through two centers in Mumbai andChennai, provides operational processing services for HSBC offices in India.

Primary DealershipHSBC Primary Dealership (India) Private Limited has authorized by the Reserve Bank of India to act as a primary dealer in the government securities market

Primary EquityHSBC Private Equity Management (Mauritius) limited, a subsidy of HSBC Private Equity (Asia) Limitedin Hong Kong, has a Liaison office in Mumbai. The company specializes in the provision of equitycapital to utilized growth in India and Sri Lanka

Asset ServiceHSBC Professional Service (India) Private Limited provides internal audit services to the HSBC Groupsinternal audit units worldwide, with particular emphasis on the It, Treasury, Asset management, private

banking and Insurance functions.

Investment bankingHSBC Securities and capital Markets (India) Private Limited has two main business lines. Its Institutionaland proprietary broking business is based in Mumbai and has seats on two of Indias premier stock exchanges, the Bombay Stock Exchange and the National Stock Exchange. It deals in Indian securities for

both Indian and international institutional and for select retail clients and is backed by an extensiveresearch team. The Corporate Finance and advisory business, with offices in Mumbai and New Delhi,offers a full range of integrated investment banking services I India and internationally.

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CHAPTER 3

RESEARCH METHODOLOGY

Research methodology is a way to systematically solve the research problem. It may beunderstood as a science of studying how research is done scientifically. In it we study the varioussteps that are generally adopted by a researcher in studying his research problem along with logic

behind him. Why a research study has been undertaken, how a research problem has beendefined, in what way and why the hypothesis has been formulated, what data have been collectedand what particular method has been adopted, why particular technique of analyzing data has

been used and a host of similar other questions are usually answered when we talk of researchmethodology concerning a research problem or study.

RESEARCH DESIGN

A research design is the arrangement of conditions for collection and analysis of in a manner and aims to combine relevance to the research purpose with economy in procedure. In fact theresearch design is the conceptual structure within which research I conducted . Research design isneeded because it facilitates the smooth sailing of the various research operations therebymaking research as efficient as possible yielding maximum information with minimalexpenditure of effort, time and money.I have adopted descriptive and conclusive research design. Descriptive research is those studies,which are concerned with describing the characteristics of a particular individual or a group.Since the aim is to obtain the accurate information about the customer in terms of his interesttowards investment in stock sector. I have used the techniques of questioning customer in order to know their consumer behavior, their interests, their needs and etc.It is very important for the sales executive to study the mind of the customer so that the personalvisit would not be a waste of time, money and efforts.

SAMPLE DESIGNAfter deciding on the research approach and Instrument, the researcher must design a Sampling Plan. Thisincludes:

Sample Size/ Population SizeA customer-based survey was conducted in which 50 people were asked to fill the questionnaire in whichall the 50 people belong to Delhi (Punjabi Bagh region) .

Because it was not possible to consider each and every person of different cities and branch, so

sample was randomly selected to perform the survey..

RESEARCH OBJECTIVES1) Main objectiveThe main objective is to know the awareness of Wealth Management Services provided by the

bank 2) Specific Objective

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Creating customer awareness;To study the investment pattern of the customers;

Creating relationship with the customer to have their sources;To study the financial needs of the customers;To educate investors to take active part in Wealth Management.

SCOPE OF STUDYThe methodology adopted for this project is exploratory in nature since there is no hypothesis that has to

be tested. The conclusions have been drawn by exploratory research work.

DATA COLLECTION The researcher can gather primary data, secondary data or both. Secondary data are data thatwere collected for another purpose and already exist somewhere. Primary data are data speciallygathered for a specific purpose or for a specific research project. When the needed data do notexist or are outdated, inaccurate, incomplete, or unreliable, the researcher will have to collect

primary data. Most marketing research projects involve some primary data collection.STATISTICAL & USED PRESENTATION TOOLS

PRIMARY DATA is represented :

First classified i.e. grouped qualitatively and quantitatively according to the situation or thetype of the data, which was collected.After classifying is in columns and rows.Some of the data is also graphically represented in the form of PIE DIAGRAM .

SECONDARY DATA is represented:

In the form of tables .AnalysisIn our research we are using:

1. PRIMARY DATAUsing questionnaire method and direct personal interview method .

The primary data through personal references;

WMS i.e. Wealth Management System of the bank;

Customer references;

Sources of collection data

Walk-in Customers

Leads

Bank executives

Tele calling

2. SECONDARY DATAThe main source of information for the project was

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Website Telephone directory Used leads of the company

Leads of the other company; i.e. telephone list for tale calling.

RESEARCH LIMITATIONS:- Time Constraint:-

Time given to us is not sufficient for this research as it requires to cover a large section of respondents.

Time and cost Constraint:-

This being an academic study suffers from time and cost constraints Confined resources of money was the constraint

Nature of the study:

The survey concentrated on personal information about income, savings etc. All these issues arehighly sensitive and of secretive nature therefore there could have been untrue answers to someof the questions.

Limited Scope:

The survey was conducted in Delhi thus the respondents belonged to only this region of thecountry. This could have brought bias into the study

Assumptions for the purpose of Analysis:

Some assumptions were made while doing the analysis and interpretations; there could be fewlimitations in regard to these.

Unrepresentative sample size :-The sample size taken for the purpose of the study does not very significantly represent the whole societyand may not clearly bring out the average trends existing in the market.

Ambiguous replies or omission of replies :Some of the respondents gave ambiguous replies for certain questions or omitted the responses to some of them. The interpretation of such responses becomes difficult and could generate wrong results

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CHAPTER 4

WEALTH MANAGEMENT SERVICES

Wealth management services at HSBC Bank includes:

Premier

PowerVantage

Financial Planning

o Insurance

o Mutual Funds

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WEALTH MANAGEMENT

Wealth Management service is a comprehensive service to optimize, protect and manage thefinancial well being of an individual, family or corporation. Its basic definition covers:

Advise on loansInvestments and insurance to give a broad of how individuals should best deploy their financial resources.

A broader picture may include

Tax adviseEstate planningBusiness planningCharity foundations and other financial needs.

Wealth Management is a holistic and integrated approach to managing your financial. It isdesigned to create, grow and protect your wealth. With a wide range of innovative products fromdeposits to insurance and investment products, and a full team of professional staff dedicated tolooking after overall financial well being.

Highlights of key trends:

1. Wealth management industry is growing very rapidly - as an organized industry it is growing interms of both the number of players as well as the number of high net worth individuals in India.Wealth mangers are aggressively marketing their services to existing and potential high networth clients. With the number of clients growing, wealth managers are ramping up their capabilities to mange growing volumes of assets.

2. Clients are becoming increasing sophisticated - wealth managers in India believe that high networth clients are becoming more sophisticated in their understanding and demands of wealth

providers, products and services. Many need a Relationship Manager to proactively assist themin managing their wealth. Wealth managers need to ensure that they are equipped with specialistskills and experienced staff to handle sophisticated client needs.

3. There is a shortage of skilled and experienced wealth management advisors - the demand for trained and talented wealth management professionals is increasing a the industry continues toexperience growth. Relationship Managers are required to have a sound knowledge of a widerange of products and services across asset classes being offered to high net worth clients.

4. Most wealth managers have adopted an open product architecture - most wealth mangers aremoving beyond in-house products and are distributing products and services sourced from other

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providers e.g. third party mutual funds, fixed income products etc. managers are focusing ontheir core competencies and outsourcing products and services to complement their in-houseofferings e.g. real estate, art advisory, taxation advisory etc.

5. Most wealth managers aim to be Trusted Advisors to their clients - open product

architecture enables wealth mangers to offer their services as a trusted advisor to clientsand offer unbiased wealth management services. Trusted advisor is capable of offering acomprehensive range of in-house and party products and services and proven advice

based on in-depth financial planning. In terms of their strategic orientation, most wealthmanagers that participated in the survey believed that they were already their clientstrusted advisors or would be within the next three years. Most wealth managers focusingon the ultra high net worth segment are pursuing a competitive strategy based ondifferentiation. Other wealth managers focusing on the mass affluent segment are

pursuing a cost leadership strategy.

6. There is relatively low usage of technology tools by wealth managers - IBM BusinessConsulting Service believes that technology plays a very important role in enabling theRelationship Manager to provide effective services to the customer. There is a need for systems, which provide a single view of the customers entire wealth portfolio wealth thewealth provider. While most players provide a consolidated view through a combinationof automated and spreadsheet applications, their are significant variations in their abilityto provide online, real-time access. Additionally, as the mass affluent segment continuesto grow in India, there is a need for online financial planning tools to assist this segmentof clients, eager to be in control of their portfolio and active in selecting and/or validatingtheir selection of products in line with their asset allocation strategy.

Who is it for?

HSBCs offering is ideal for high-net worth customers

Who are investing in Indian equities

Who desire a personalized investment program

Who desire long-term wealth creation

Who appreciate a high level of service

As a part of its Wealth Management Services HSBC attempts to:

Leverage full-service platform and market leadership to meet the customers needs

Provide the highest quality advice and service

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Focus on tax-sensitive, customized portfolio construction

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4.1 PREMIER

INTRODUCTION

HSBC Premier is a premium service, which is being offered to selected customers. Its a globalrelationship banking that dramatically changes and simplifies the way one handles the finances today.

HSBC premier eases the pressure of meeting countless deadlines and making innumerable decisionsespecially when one is on the move. Managing ones financial portfolio is now more convenient withHSBCs range of highly personalized, comprehensive, time saving and rewarding facilities and services.

As an HSBC Premier customer, one is immediately recognized globally and is given priority when onecounts the bank. One to one relationship banking ensures that the dedicated relationship manger is alwayson hand to assist and guide the client in his/ her most effective management of the finances.

One enjoys specialized facilities that go beyond regular banking. These include top line investment and broking services, home banking, no bounce cheque protection, and much more. HSBC is committed tounderstanding and anticipating ones every banking need.

SERVICES OFFERED

Relationship Management : the premier customer enjoys access to a dedicated HSBC Premier Relationship manger that will act as a single point of contact with the bank. All bankingneeds of the clients will be anticipated, understood and comprehensively addressed by thisrelationship manger who will mange his, her financial portfolio by offering customizedfinancial solutions, initializing with different departments and securing the best financialterms for the premier client.

Investment Services : the financial consultant is committed to understanding every banking needone may have and has one objective to harness the financial strength of the HSBC group to

provide the best solution to meet those needs. If required, this financial consultant will provide the specialized advice on the clients investment portfolio and offer valuablerecommendations on wealth creation and management.

Broking Services : broking services made available through HSBC securities India HoldingsLimited brings the convenience of executing the clients buying and selling transactions.

Exclusive HSBC Premier Centers: dedicated HSBC premier centers around the world,designed with the clients need in mind. Whether one need cash in a foreign country or more despite from hectic day. HSBCs service centers provide exclusive, confidential, andcomfortable environment where one can conduct the banking transactions.

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Special Account for Children: the premier client can avail of the benefit of HSBCs GenNextaccount which offers the children a range of benefits which include a zero balance savingsaccount, systematic investment plan and a debit card (for minors over the age of 16 years).

i) HSBC Premier debit Card : This premium debit card gives access to over 6,70,000 HSBC &VISA/PLUS ATMs across the world. It also allows the premium customers to make purchasetransactions at 10 million merchant establishments worldwide. With HSBC debit card, onehave access to unlimited free cash withdrawal and balance enquiry transactions at over 6000non HSBC VISA ATMs in India.

ii) High cash withdrawals : the premium clients can withdraw up to or equivalent of Rs10,00,000 per day from any HSBC VISA ATMs in the world.

iii) HSBC Premier Master Card : this premium credit card comes with a pre-approved creditlimit of at least Rs 2,00,000. It also provides access to all HSBC group ATMs as well as the

MASTER CARD CIRCUS network of ATMs in India.

iv) 24 Hour Banking : one can access to the bank through the personal telephone bankingservice, 24 hours a day, 7 days a week.

v) Home banking : HSBCs home banking services include the physical delivery of cash (for any amount un to Rs 2, 00,000) and receipt or delivery of cheques, drafts, etc via specialcourier.

vi) No Bounce Cheque protection : HSBC premier can avail of No bounce cheque protection of up to Rs 1,00,000 on any HSBC premier cheque issued.

vii) Safe Deposit Locker service : the bank gives preference for the provision of a locker.

viii) Consolidated Statements : With a consolidated statement of accounts, the premier customer can get a snapshot of his/her portfolio with the bank.

ix) Write in Tax Advisory : HSBCs tax advisors for guidance on personal tax related matters,free of charge.

x) HSBC Premier Global service : One can access to a wide range of special services, 24 hoursa day, 365 days a year, anywhere in the world. In addition, one can enjoy a range of other services, available around the world.

FOR INSTANCES ONE CAN:

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Exchange foreign currency, free of commission, at any branch of HSBC that handlesforeign currency exchange.

Report lost or stolen cards or documents with ease and get an emergency replacementcard.

Gain immediate access to an emergency medical and dental referral services across the

world. Benefit from medical repatriation or evacuation in case of any serious health problem. Obtain emergency legal assistance while traveling outside our country. Avail of emergency messaging and interpretation services. Gain access to business service arrangement and courier service. Obtain air travel, hotel & car higher reservation information and services. Seek special information to help in knowing ones destination better, even before one

arrives there. Enjoy meals at preferred restaurant based on clients cuisine preference. Obtain information on golf courses, location, tea times, fees and pars and even arrange

booking and payments. Track lost luggage, which will be located and delivered to the client.

ELIGIBILITYHSBC Premier is available to both resident and non-resident Indian individual at a minimumaverage and quarterly relationship balance of Rs 25 lacks.

For resident Indian individual this relation balance includes combination of deposit or investmentand loans of which;

A minimum of Rs 20 lacks is to be held in deposit or investment (Mutual Funds)

purchased through the bank.The remaining Rs 5 lacks of the relationship can consist of loans taken from the bank.

For non-resident Indian individuals, the relationship balance comprises of Rs 25 lacks in depositswith the bank.These are some of the additional services offered to the investors. These are some of the ways,

which are used to segment and reach the potential customers.

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4.2 POWERVANTAGE PLUS

Having a POWERVANTAGE account entitles one exclusive attention and many reserved privileges.So exclusive in fact, it almost seems unfair. But when youre used to the best wherever you go, youshould expect it at bank too that are:

Unlimited free transaction (cash withdrawals and balance enquiries) at over 2,500 VISAATMs in India using your Powervantage Debit card.

Dedicated Service Desk and Teller Counters to assist customers Financial Planning Services to assist customers in planning future investments and insurance

needs. HSBCs GenNext account is a zero balance savings account that offers a wide range of

benefits such as Systematic Investment Plan (SIP), to secure childs future. Free cheque books with Cheques Payable at Par (CPP) in all cities where HSBC has branches No-bounce cheque protection which means all cheques presented through clearing

irrespective of funds available will be honored

Joining fee waiver and 50% off on the annual fees of your Credit card. * Preferential pricing on Home Loan and Personal Loans Higher cash withdrawal* limit of 50,000 and funds transfer up to Rs 1,00,000 with your

Powervantage Debit Card from 2,500 VISA ATMs in India and 6,70,000 such ATMsoverseas.

ELIGIBILITY

Maintain an overall quarterly balance of Rs 1,00,000 as a combination of deposits and loans with aminimum of Rs 50,000 in deposits or take a home loan from HSBC Finance or hold a minimuminvestments of Rs 50,000 purchased through HSBC Bank.

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4.3 FINANCIAL PLANNING

Financial Planning is planning for and managing lifes financial outcomes

Financial Planning is the process of examining a clients personal situation, financial resources,financial objectives and financial problems in a comprehensive manner, developing animpartial, integrated plan to utilize the resources to meet objectives and solve problems,taking the steps to implement that plan once approved by the client, and monitoring the

plan performance to take corrective action as necessary to assure that results match the plan projections.

Financial planning is a comprehensive strategy to integrate an individuals or familys financial goals,including Risk management, Investment, Tax planning, Retirement planning and estate planning.

Financial Planning requires strategies for:

a) Identifying and development alternative sources of funding

b) Using and allocating funds in the most efficient manner, and

c) Adjusting program and institute size to the projected funding base.

WHAT FINANCIAL PLANNING CAN DO

Organize finances Improve cash flow Lower personal income taxes Plan for retirement Plan for college expenses Improve investment performance Lower investment risk Reduce insurance costs Minimize estate settlement costs

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PROCESS OF FINANCIAL PLANNING AT HSBC

24

PERSONAL INFORMATION

FINANCIAL NEEDS & GOALS

Assisting Investment Options

INVESTMENT SUITABILITYSTUDY

Map out an Investment strategy forreaching stated objectives

Determining current financialsituation


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4.3.1 INSURANCE

Single

Determining your protection needs can be a task in itself! This is especially true for ayoung, single individual like you. The question you are probably asking yourself is whether youhave any need for insurance at all.... If yes, what are the options available? How do you choose?Will your selected plan/plans be the right choice?

Married

You have just said "I do".... But have you planned for the responsibilities and financialcommitments that go hand in hand with such a decision. What kind of protection plan will serveyour needs at this stage of your life? What are the options available? How do you choose? Willyour selected plan / plans be enough?

Family

Having a child is often described as the most fulfilling experience for most parents... butit brings on new responsibilities that are often daunting... have you planned for your future?What kind of protection plans will serve your needs at this stage of your life? What are theoptions available? How do you choose? Will your selected plan/plans be enough?

Retirement

Your children are educated and married... You live in a beautiful home with your wifeof many years... and finally you are once again free to fly... do what you want.. be a child again.

Determining your protection needs can be a task in itself! What kind of protection plans willserve your needs at this stage of your life? What are the options available? How do you choose?Will your selected plan/plans be enough?

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4.3.2 MUTUAL FUNDS

CONCEPT

A Mutual Fund is a trust that pools the savings of a number of investors who share a common financialgoal. The money thus collected is then invested in capital market instruments such as shares, debenturesand other securities. The income earned through these investments and the capital appreciation realisedare shared by its unit holders in proportion to the number of units owned by them. Thus a Mutual Fund isthe most suitable investment for the common man as it offers an opportunity to invest in a diversified,

professionally managed basket of securities at a relatively low cost. The flow chart below describes broadly the working of a mutual fund:

Mutual Fund Operation Flow Chart

BENEFITS OF INVESTING IN MUTUAL FUNDS

DiversificationProfessional ManagementLiquidityFlexibilityCost EffectiveWell Regulated

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Canopy and stall based promotional activities

PEOPLE HSBC is equipped with one of the best staff available in banking industry. The bank provides it privileged clients with a dedicated Relationship Manager who cares of

clients on a personal basis. HSBC periodically hold training sessions for its employees for keeping them update. HSBC takes all due measures to motivate its people and develop them into an efficient and

socially developed workforce.

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CHAPTER 6

DATA ANALYSIS

1.Gender profile of respondents

The above pie diagram shows that 87% of the respondents were males and the rest 13% werefemales. This also shows that most of the customers holding Premier accounts andPowerVantage Accounts with HSBC Bank are males.

2.Annual household Income of the respondents

30

male87%

female13%

male

female

GENDER PROFILE


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39%31%

19%

11%

Annual household income

20lakhs

Annual household income of majority of the respondents i.e. 39%(less than Rs. 5 lakhs), 31%(Rs. 5-10 lakhs) is less than 10 lakhs shows incapability foe using financial planning and wealthmanagement services. 19% of the respondents were in the group of Rs. 10-20 lakhs which could

be the prospects for using the services and only 11% constitutes the people whose income ismore than Rs. 20 lakhs and these are respondents who are bets suited for financial planning andwealth management services.

Q.3. Do you invest your money?

56%26%

18%Regularly

Occasionally

Never

31

Do you invest your money?


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Maximum number of respondents i.e. 56% invests their money in some form or the other while 26%constitutes the people who invest their money occasionally i.e. whenever they have a very goodopportunity and only 18% of the respondents do not invest their money at all.

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Q.4. Whose advice is instrumental in your investment decision?

1513

1012

02468

10121416

1

Value

Influencer

INVESTMENT DECISION

Own

Family &Friends

CA

FinancialPlanner

As seen from the graph, maximum number of people likes to invest their money based on their ownexperience and more respondents invest with the advice from their family and friends. While only10people take the advice of their CA and lastly 12 ask their financial planner. This shows that maximumnumber of customers dont take the advice of CA of Financial Planner.

Q.5 Where do you invest more?

280

242

54

141

282

143

211

35

0

50

100

150

200

250

300

1

Values

Types of Assets

ASSET ALLOCATION

savings

insurance

mutual funds

govt. bonds

fixed depositsreal estate

stock markets

others

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As seen from the figure that most of respondents keep their money either in Savings a/c & Fixed Deposit,which do not involve risk and are safe with fixed returns. After that, people like to invest their money ininsurance schemes and stock markets. About a 50% of customers also like to keep their money in Govt.

bonds and retail estate, while very few people like to invest in mutual funds.

Q.6 Are you aware of or currently using any Financial Planning service?

35%

65%

Awareness of FPS & Wealth Management servicesof HSBC

YES

NO

This pie chart clearly that majority of respondents i.e. 55% are still unaware about the servicesabout the Wealth Management Services of HSBC Bank.

Q.7 What parameters do you consider before selecting any Financial Planning Service?

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280

211

245

185

136

0

50

100

150

200

250

300

1

Parameters

reliabilitypast returns

brand image

services of fered

refered by friends

From the above figure we observe that most of the respondents give maximum weightage to reliability.Brand name and past returns also play an important role.

Q.8 What factors are important for you before investing in any financial instrument?

RISK

75%

25%

0%

RISK

Veryimp.Imp

Risk plays a very important role for most of the investors as it is considered as a very important factor inaffecting the investment decision.

1. RETURN

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67%33%

0%

RETURN

Veryimp.Imp

Majority of people believed that returns expected out of an investment are very important considerationfor choosing an investment option. Because the returns expected tells that whether to invest in particular

investment or not.2. LIQUIDITY

32%

48%

16%

4%

LIQUIDITY

Very imp.Imp

Mod. Imp

Little imp

32% of the people believed that Liquidity is very imp while 48% believed that liquidity is importantfactor for investment in any financial instrument.

3. BRAND IMAGE

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34%

41%

17%

6% 2%

BRAND IMAGE

Very imp.

Imp

Mod. Imp

Little imp

Unimp.

34% of the respondents believed that brand image is very important while 41% thinks that it is importantconsideration while choosing an investment option.17%said that it moderately important.

Q.9Respondents interested in Future use of FPS including Wealth Management Services of HSBC Bank.

75%

25%

Future use of FPS & Wealth Management servicesof HSBC Bank

YES

NO

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Q.10 How would you rank the following banks on the basis of the Wealth Management Servicesprovided by them?

HSBC Premier 1

STAN CHART Priority 3

CITIBANK Citigold 2

ABN AMRO Van Gogh 5

AXIS Priority 4

ICICI Priority 7

HDFC Preferred 6

SWOT ANALYSIS

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o STRENGTHSHSBC brand in itself is strength for the bank.The banks debit card can be used on the ATMs of all the banks free of cost.Free investment advisory services are provided with the savings account.

No commission is charged on the investment advisory services provided to the customers.

The credit card provides a pre approved credit limit as high as Rs 2,00,000 to its investors.Unlimited transactions are provided on debit card. It comes with a withdrawal limit of Rs1,00,000 per day.Free home banking is provided to the account holders which includes cheque pick ups, cashdelivery up to Rs 2,00,000

No balance cheque protection is also provided to the account holders.

o WEAKNESSESThe bank does not provide cash credit limit, which is a big limitation for the currentaccount holders.The number of branches is very few due which people who are staying far do not

prefer to bank with HSBC Bank.The balances, which are to be maintained, are very high for both current and savingsaccount, which keeps the middle-income group away from opening account.The bank has hidden costs, which sometimes lead the existing customers close totheir account.

o THREATSConcentration Risk- entry of new competitors in the market like Deutsche Bank andBarclays Bank in retail banking who intend to market themselves aggressively inIndia.

Presence of various NBFCs pose a major threat to HSBCs Wealth ManagementServices because the services provided by all of them are more or less the same.

o OPPORTUNITIESIncreasing awareness about financial planning services in India.Increasing number of people is interested to invest due to the rising markets and

booming economy.Increasing disposable incomes of people.

FINDINGS

HSBC is effectively brokering the various life insurance policies for TATA AIG life insuranceCompany till 10 June 2008 and now with Canara Bank, Oriental Bank.

PFR the Financial Analysis Tool and the Insurance Needs Calculator predict the future needs andamount of cover required by a particular customer in an effective manner.

Wealth management services at HSBC bank are amongst the best in the industry with the primethrust on niche market.

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The services provided by the bank are better than the competitors. The brand makes regular efforts to gain more business from its existing subscribers by

telemarketing. Telemarketing executives seems to be well trained to interact with customers with end result of

building highly positive brand associations, if not more revenue.

It has started the concept of Social Workforce balance in which the employees are given time tofulfill their social obligations. The revenues have grown up with the Wealth Management Services and the Premier customers

are more satisfied with these services. The bank is using a double edged weapon for fulfilling its social commitments , as well as

effectively publishing its services by way of conducting various events on Saturdays whichinclude

o Magic showso Painting competition for childreno Craft making competition for childreno Cartoon day celebration

To increase the morale of the employees celebrations for target beaters along with thecelebration of the birthdays are done.

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LIMITATIONS

Respondents were h esitant in sharing personal details like name, phone numbers etc. with us.

Respondents were not willing to share financial details like personal income, expenditure etc.

The study was done for only 50 people, so the actual figures may be different.

At times the information given by the respondents was found to meet the financial planningmanager in most cases, as they were not willing to share personal financial matters with us.

The PERSONAL FINANCIAL REVIEW SOFTWARE (PFR) is too complex for a layman to

understand and comprehend the results without the help of a Financial Planning Manager (FPM),so while pitching for it on phone explanation of its functions is difficult unless an appointment isgenerated.

The PFR is too lengthy also and involves lot of time to spend for a FPM and the customers,which could result in loss of resources from both sides.

It gives out the desired Debt Equity Mix, the savings-wealth graph and predicts the cash flowsand future requirements but these are mere predictions and depend upon non-happening of contingencies.

CRMS Primary URL u sed to maintain information and transaction record of the customers isredundan t and not updated frequently.

HSBC only brokers insurance for Tata AIG, it does not actually run life insurance, so it only getsa part of premium as commission after doing entire efforts for selling the policy.

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CONCLUSION

Wealth Management Services are still at a nascent stage in India. It will take around 2-3 years to become an easily available service. From the results of the study it is quite evident that people are clear of their goals and the investment options to select in case of short-termneeds or traditional investment methods whereas the awareness about newer investmentavenues is evidently low. Most of the customers never analyze their long-term needs andare just indulging in ad hoc savings and investment with no structure or game plan in mind.Since the goals needs etc. are not defined so are the needs for saving and the methods of investment.

Certain things were evident from the results of the study:

Extremely low level of awareness about financial planning services. Undefined long term needs in most cases. Mismatch between needs for investment and the financial instrument selected for the same Most of investments made were ad hoc. No structure or initial planning was done before

investing the money. A significant amount of population invest just to save taxes rather than to build a corpus or

additional income. A major portion of investments was blocked in non-liquid assets like property showing that the

investment portfolio had not taken care of the liquidity needs of investors. The family members and friends rather than the individual himself easily influence the financial

decisions of individuals. There is a need to increase the awareness regarding Financial Planning services as well as try to

tap through referrals by existing customers this would help them to increase their market share.

All these findings show that there is an emerging need for Financial Planning since people havenot got the right acumen to always plan for their needs or at times to think over their

prospective needs and decide how to save for them. There is a great scope for the increasein market of financial planning because people are not always capable of taking the rightdecisions at the right time and need expert advice. With a financial planner at hand peopleand their investments can go a long way therefore everyone can take benefit of Financial

planning services.

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1. Understand the effect of each financial decision- each financial decision you make can affectseveral other areas of your life. Eg. On investment decision may have tax consequences that areharmful to your estate plans? Or a decision about your childs education may affect when andhow you meet your retirement goals, remember that all of your financial decisions areinterrelated.

2. Start planning as soon as possible- doesnt delay your financial planning. People, who save or invest small amounts of money early, and often, tend to do better than those who wait until later in life. By savings, budgeting, investing and regularly reviewing your finances early in life, youwill be better prepared to meet life changes and handle emergencies.

3. Re-evaluate your financial situation periodically- financial planning is a dynamic process. Your financial goals may change over the years due to changes in your lifestyle or circumstances, suchas an inheritance, marriage, birth, house purchase or change of job status

4. Realize that you are in charge- if you are working with a financial planner, be sure youunderstand the financial planning process and what the planner should be doing. Ask questionsabout the recommendations offered to you and play an active role in decision-making.

5. Be realistic in your expectation- financial planning is a common sense approach to managingyour life goals. It cannot your situation overnight. It is a lifelong process. Remember that events

beyond your control such as inflation or changes in the stock market or interest rates will affectyour financial planning results.

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BIBLIOGRAPHY

Books

Kothari C.R., Research Methodology, Revised Edition 2000, VishwaPrakashan .

Aggarwal B.M., Quantitative methods, 10 th Edition

Harper W. Boyd (1996), Ralph Westfall and Stanley F. Stsch MarketingResearch 7 th Edition, Published by Laxman Chand Arya, Arya Book Depot.

Websites

www.hsbc.co.in

www.hsbc.com

www.insuranceindia.com

www.crisil.com

www.indiainfoline.com

45
http://www.hsbc.co.in/http://www.hsbc.com/http://www.insuranceindia.com/http://www.crisil.com/http://www.indiainfoline.com/http://www.hsbc.co.in/http://www.hsbc.com/http://www.insuranceindia.com/http://www.crisil.com/http://www.indiainfoline.com/


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ANNEXURE

QUESTIONNAIRE

NAME: AGE:

GENDER: M F

MARTIAL STATUS : SINGLE MARRIED

ADDRESS :

CONTACT NO .:

OCCUPATION :BUSINESS OR SELF EMPLOYED SALARIED

PROFESSIONAL HOMEMAKER

OTHERS

EDUCATION QUALIFICATION :

UNDERGRADUATE GRADUATE

POST GRADUATE PROFESSIONAL

OTHERS

ANNUAL HOUSE HOLD INCOME

20 LAKHS

Q How often do you invest your money ?

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Q Do you have accounts in other foreign banks? If yes, then which one?

Q Whose services will you prefer to take the most ?

Study on Hsbc Bank

Documents