Shanghai Banking Corporation
HSBC cuts Philippine growth forecast to 3.6pc this year
Source:
philstar.com 
The Philippine economy is forecast to grow by just 3.6 percent this year, from an earlier outlook of 4.2 percent, the eurozone continued to slip into a recession and the US economy remained stagnant, the Hongkong and Shanghai Banking Corp. (HSBC) said in a report.
HSBC acquires RBS retail business in India
Hong Kong and Shanghai Banking Corporation (HSBC) has agreed to acquire the Indian retail and commercial banking business of Royal Bank of Scotland (RBS) for a premium of USD95 million over the net asset value of the business, both banks announced yesterday.
RBS's retail and commercial banking businesses in India currently have 1.1 million customer relationships served by over 1,800 staff through 31 branches.
