Vadodara: Expanding its footprint in Gujarat, HSBC India today unveiled its first branch in Vadodara. This new branch is the bank’s 27th in India and the second in Gujarat after Ahmedabad.

This comes after the Reserve Bank of India’s approval earlier this year to open 20 new bank branches in key cities. Further, HSBC India will also open branches in Rajkot and Surat in Gujarat, meaning that four of the largest cities in the state will have HSBC branches.

“Vadodara, known for its rapid economic growth and industrial prowess, is emerging as a significant hub for wealth creation. The city is home to a burgeoning population of affluent, High Net Worth (HNW), Ultra High Net Worth (UHNW), and non-resident clients in one of India’s rapidly growing wealth and industrial hubs. HSBC’s new branch is strategically positioned to meet the financial and wealth needs of this customer segment,” the company said.

Commenting on the launch, Sandeep Batra, Head of International Wealth and Premier Banking, HSBC India, said, “As entrepreneurial spirit and innovation continue to drive economic growth and personal wealth, affluent customers are increasingly adopting a global outlook. They are seeking a trusted partner who is able to consistently serve them across jurisdictions. Our new branch in Vadodara reflects our commitment to being closer to our customers and delivering world-class banking solutions tailored to their unique needs. As the leading international bank in India, we remain focused on enabling our clients to unlock opportunities and achieve their aspirations, both in India and internationally.”

With this addition, HSBC now has a network of 27 branches across 15 cities in India. Notably, HSBC has an international banking unit in GIFT IFSC. The GIFT City branch provides banking services to international clients as well as those interested in global markets. DeshGujarat