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HSBC Bank is in the process of increasing its presence in India. The Bank is trying to
identify potential opportunities in the major cities of India and gain a successful
presence into these cities. The bank is well known for its Wealth Management
services. Lucknow is also one of the potential markets eyed by the company. In order
to gain a deeper understanding of the target customer profile in Lucknow and to
understand their needs and the preferences, this has been commissioned by the
company.
The study was conducted in the city of Lucknow where responses from 50
respondents were collected. The sample consisted of potential customers who can
avail Wealth Management services provided by various banks. Interviews were
conducted with the customers of various banks at their respective branches. Apart
from this some interviews were also conducted some residences. In addition this, a
series of Interviews were conducted so as to ascertain the parameters necessary for
estimating the needs, attitudes, beliefs and preferences of the target group so that
HSBC could provide the better Wealth Management services to its clients. A
comprehensive and exhaustive literature survey was also undertaken in relation to the
research study. A research instrument was then developed based on those insights,
which was administered through a disguised process, in the form of informal
discussions. The process received an overwhelming response from the respondents.
The results and analysis of the survey have provided a firm foundation for us to
develop a marketing strategy for its Wealth Management services in Lucknow. A
series of recommendations have been given at the conclusion of the project report.
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HSBC was founded in 1865 and has made its mark in Lucknow very recently. Within
a short span of time, it has made rapid progress despite tough competition from the
present banks. The Bank is trying to identify potential opportunities in Lucknow and
gain a better position as it is one of the potential markets eyed by the Company.
The project encompasses a comparison of HSBC with the other banks operating in
Lucknow which are in close competition with respect to products offered to the
customers of High Net Worth (HNls). The banks included under study are:
• Standard Chartered Bank
• Citibank
• HDFC Bank
• ICICI Bank
While making the comparison, I found that the potential customers are not much
aware about the product, but those who know about it actually prefer it. Apart from
this, HSBC has been following aggressive marketing strategies which have helped the
bank to be in direct competition with those banks which were already present before
HSBC entered the Lucknow market. It has also been found that HSBC faces
maximum completion from Citibank in HNI segment in Lucknow.
A survey was also conducted with a sample size of 50 customers of existing banks to
know the level of satisfaction from their banks they are banking with at present. I
found that maximum customers are satisfied with HSBC Premier and the standard of
services offered.
I have also made certain recommendations regarding the strategies to position HSBC
Premier in a better way so as to be able to gain a much better position against its close
competitors. Recommendations like increasing the Bank's visibility in the city through
advertising, providing a wider range of services to HNI clients, creating a different
image in the minds of the customers, etc have been made.
There is a huge scope for HSBC in Lucknow to tap the HNI segment of the entire
population. Though it has come a long way but there is much more to go.
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INTRODUCTION
Banking dates back to 1786, the first bank established in India, then the
nationalization of banks in 1969 and recently the liberalization of the same since
1991.
Currently, banking in India is fairly mature in terms of supply, product range and
reach-even though reach in rural India still remains a challenge for the private sector
and foreign banks. In terms of quality of assets and capital adequacy, Indian banks are
considered to have clean, strong and transparent balance sheets relative to other banks
in comparable economies in its region. With the growth in the Indian economy
expected to be strong for quite some time-especially in its services sector the demand
for banking services, especially retail banking, mortgages and investment services are
expected to be strong. One may also expect M&As, takeovers, and asset sales.
Retail banking refers to banking in which banks undergo transactions directly with
consumers, rather than corporations or other banks. Services offered include: savings
and checking accounts, mortgages, personal loans, debit cards, credit cards, etc.
The banking scenario in India is at the crossroads and is continuously evolving, but
the progress has been remarkable over the past decade.
The moment one enters a bank, one looks for some assistance in transaction. One
expects to be served immediately or at the earliest. Quite contrary to this, when one
enters any bank, he would try to catch the eye of an employee. Depending on the size
of the bank, there will be any number of employees working unmindful of a
customer's entry. With the exponential growth of touch points and sophistication, the
frontline sales force is assuming the role of a relationship person and is constantly
under the microscopic observation of the customer. At a time when channel
innovation has become the order of the day to encourage effective banking habits
among customers, a vital component of the supply chain, namely, customer interface
is totally missing.
With the advent of liberalization, the banking industry had made a head start towards
the best banking practices at each interaction point of the supply chain. However, the
Indian landscape is not a replica of the west and is in fact unique.
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costs Rs. 3545 if done with physical presence of the customer at a branch, Rs. 7
through a cheque and Rs. 2 on the Internet). These new creations have resulted in
different channels of distribution of banking products and services. The transaction
simplicity through these channels is drawing people to these banks, not just for
banking products but for other ancillary products such as payment of utility bills and
insurance premium.
Road Ahead:
The branding of banks in India is not completely popular at least for now. It is now
assuming importance and it will be a pertinent question for banks to identify
themselves in an otherwise messy market where the products are pretty much the
same. The motto is to get more and more people involved in their banking business
and such a relationship "'(ill be hard to come by with plain vanilla products and
services. Without much leeway in the avenues for operatings, the true challenge for
the bank& is to stand out in the midst of hard-hitting regulations of the apex body.
Globalization, consolidation and want of expertise are drastically redefining the
banking taxonomy.
In the financial year 2005-2006, the Indian government heralded a new era for the
entry of foreign banks into the country's retail banking industry. The government
introduced a step-wise approach spanning five years (till 2009) for the operation and
expansion of foreign players.
While the overall growth prospects for this industry seem impressive, scheduled
commercial banks seem to have more potential for growth in the country's relatively
under-penetrated retail lending segments. Technological innovations, improvements
in the regulatory environment, and low penetration in the consumer loans segment are
some of the growth drivers. The gross national savings are estimated to triple in the
coming 10 years with India recording the highest rates of growth.
Though many foreign banks have a presence in India, their share of Indian banking
has been declining.
India is one of the most under-pelletrated retail banking markets in the Asia-Pacific
region. Compared with growth in other markets, especially the developed world, this
is a market yet to be fully tapped by all players - private sector banks, public sector
banks, and foreign banks.
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PURPOSE OR OBJECTIVE OF THE REPORT:
There is a huge scope of tapping the Lucknow market. This Study includes a
comparison of the various private and foreign banks operating in the Lucknow market
at present. The banks under the study are mentioned below:
• HSBC Bank
• Standard Chartered Bank
• Citibank
• HDFC Bank
• ICICI Bank
The sole purpose of the report is to position and differentiate HSBC premier in the
market and suggest some strategies to better market the product in respect to its
competitors in the same segment. Through this analysis the bank would be in a better
position in knowing its strengths, weaknesses, opportunities and threats.
The project also includes the comparison of value added features of a bank account
that is generally targeted towards the High Net worth Individuals (HNls) of HSBC
Bank with other five banks under study.
The project will enable the bank officials to find better ways to approach a new
customer base with their offerings to them and gaining an edge over the other banking
companies which are working in close completion with HSBC.
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RESEARCH METHODOLOGY
Business Objective
The business objective describes the prime intent of HSBC. It could be stated as, " A
Comprehensive Study Of Financial Planning and Wealth Managment Of HSBC
PREMIER in Comparison to Other Banks".
Research Objective
This report is prepared with the objective to find out the awareness about the Wealth
Management services provided by HSBC Lucknow. This report will provide
assistance in developing better ways to market the Wealth Management services to its
clients. Some of the key points are
(a) To understand the key parameters that influences the choice of bank among
the target group.
(b) To analyze the customers' evaluation of the current banking system and the
need gaps and the key retention factors therein.
(c) To analyze the awareness about the Wealth Management services among its
clients.
(d) To bring out better marketing strategies for the bank to attract more customers.
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Hypothesis
There exist a potential growth in the wealth management industry and thus this project
authenticates the feasibility of Wealth Managers in the Lucknow market.
Research Design
This project is more of an exploratory research with more of qualitative analysis than
quantitative. The data collection method for this project begins with finding a sample
of the population. The population for this project was customers as well as non-
customers of banks in Lucknow.
The research methodology adopted was both primary and Secondary. Primary data
was collected to study the investment psyche of a person, their practice on saving,
investment options available and the need of Wealth Managers to manage individual's
wealth. Questionnaire was designed and Interviews both direct and indirect were
undertaken, to ascertain the investor's behavior as well as to depict the future
prospects and growth momentum of the wealth management industry, on which the
hypothesis was tested.
Various banks and private wealth advisors were also interviewed to get an in-depth
knowledge of their services and how they provide value additions to the customer's
existing portfolio and savings potential. The interview helped us to know what all
services are offered by the company to push the product to the end consumer.
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The mode of communication was informal & friendly conversation, which does not
limit discussion within a well-defined boundary. This helps in listening to the wealth
Managers and learning as to what they have to say, because a lot of importance needs
to be given to this, as they are the people who stay in the market the whole day and
know it better than anybody else. Informal & friendly conversation also allows the
mask, that one wears when doing business, to be dropped to accommodate free flow
of thoughts and ideas.
(b) Interviews
Interviews had been taken with the relationship managers of various banks, private
wealth management companies, both direct and indirect i.e. through telephone. The
interview enabled a detail understanding of the portfolio management services and
also highlights their service offerings, on which they differ from one another. The
interview further helped in the design of the questionnaire.
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This questionnaires also required the respondents to mention the degree of importance
he/she give to the following parameters while going for a financial advisor, where the
degree varied from 'Absolute Importance' to being 'Indifferent'.
Brand Name
Charges
Flexibility
Overall Services
Clientele
Transparency
Reference
Value Additions
The respondents was also asked regarding their objective behind investments and their
practice on saving money for investment such as retirement, paying off their loans
liabilities. The questionnaire also stressed on the role of wealth management/financial
planning, future of financial advisors, products offered by different financial planners
and perception and satisfaction level of customers who are currently availing these
services. Individuals decision while they make investments were also asked as there
are many people who takes their decisions independently or advice from chartered
accountant.
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However, the following sources were considered for information gathering:
Companies web sites
Articles and reports available on the web
Investment Magazines
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About The Bank:
THE HONG KONG AND SHANGHAI BANKING CORPORATION LTD.:
Countries Covered 83
Employees 3, 30,000
HSBC Holdings plc is the world's largest financial group in terms of market
capitalization. It was also rated the third largest company by Forbes 2000. HSBC
Holdings was established in 1991 to act as the parent company to The Hongkong and
Shanghai Banking Corporation. The bank is the fourth largest corporation in the world
in terms of assets.
With listings on the London, Hong Kong, New York, Paris and Bermuda stock
exchanges, shares in HSBC Holdings plc are held by around 200,000 shareholders in
some 100 countries and territories. The shares are traded on the New York Stock
Exchange in the form of American Depositary Receipts.
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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.
HSBC's Non Resident Indian Banking (NRI) centres located in Asia-Pacific, the
Middle East, Europe and North America, together with HSBC's offices worldwide,
provide the international Indian Diaspora access to a range of products and services.
These include NRI related investment (both international and 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 HSBC's
services.
Wealth Management
Personal Banking
HSBC offers a wide range of personal financial services, including personal lending
and deposit products, through its branch network in Ahmedabad, Bangalore, Chennai,
Chandigarh, Coimbatore, Gurgaon, Hyderabad, Jaipur, Kochi, Kolkata, Ludhiana,
Mumbai, New Delhi, Noida, Pune, Thane, Trivandrum and Visakhapatnam. Also
offered branch-wide are international Gold and Classic credit cards from VISA and
MasterCard and debit cards from Visa. Customers have access to 24-hour banking
services through an extensive network of automated teller machines (ATMs), an
integrated Call Centre, and internet banking - online@hsbc .
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Commercial Banking
Corporate Banking
Business Banking
HSBC's Extra Mile Business Banking offers two types of account to small and
medium-sized businesses - The Business Account and the Business Vantage Account.
Services include Business Phone Banking, Business Doorstep Banking and Multi
Branch Business Banking.
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involved in the bullion business through its offices in Ahmedabad, Bangalore,
Chennai, Hyderabad, Kolkata, New Delhi and is supported by the Group's global
expertise in the precious metal business. HSBC is the leading provider of trade
services in India and its trade centres are ISO 9002 certified.
Institutional Banking
Working closely with Group offices in India and overseas, trade services, payments
and cash management, treasury and capital markets, custody and clearing, and
correspondent and electronic banking activities are offered to banks, financial
institutions, securities houses, insurance companies, asset management companies and
other non-banking companies, non-government and development organizations
operating in India.
Clients consistently rate HSBC's Treasury business as one of the best in India. Its
dealing room in Mumbai is one of the largest in the country, serving clients in
Mumbai and in the major metropolitan centres across the country. It provides a
comprehensive range of products which include - foreign exchange, money market
and fixed income products and derivatives in both rupees and major currencies.
The leading custodian in Asia, HSBC's custody and clearing services are available in
28 markets in Asia-Pacific and the Middle East. With experienced staff and the latest
technology, HSBC is the premier provider of sub-custodian and clearing services to
foreign institutional investors (FIls) in India. HSBC clients include the domestic fund
management sector in both the retail and institutional segments. Institutional Fund
Services launched by the bank offers a comprehensive suite of products to domestic
mutual funds and insurance companies ranging from custody, fund administration
services, unit distribution and Cash Management Services.
Factoring
HSBC offers a full range of domestic and international factoring products. The
factoring products offer flexible structures, together with our payments and cash
management services, to provide seamless supply and delivery to corporates.
Factoring's product suite comprises end-to-end supply-delivery chain solutions,
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including Receivables Finance, Vendor Finance, Purchase Order Finance and
Distributor Finance. Segment specific products such as Merchant Loans for credit
card merchants are also provided.
HSBC Advance:
GenNext Account
This account helps the customers' children to enjoy amazing advantages. Like the
customer
• The account also includes a debit card, so that his child can
enjoy-financial freedom within the boundaries set by the customer.
When it comes to assured returns, choosing the right type of savings scheme makes all
the difference. HSBC Fixed Deposits let you make the most of value-added benefits
as you create wealth at low risk.
Take the smart way out, with the HSBC SmartMoney Account, which enables you to
enjoy all the benefits of a savings account coupled with the high returns of a fixed
deposit. A unique combination of a fixed deposit and a savings account, the HSBC
SmartMoney Account lets you enjoy the higher returns of a fixed deposit and yet
retain the liquidity and flexibility to meet all your needs.
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Smart Money Plus Account:
SmartMoney Plus. is not just another fixed deposit. Apart from the high rate of
interest, it offers a string of features which make it the smarter way to save hardearned
money.
No Frills Savings Account allows you to bank with HSBC with a zero minimum
balance requirement i.e. you can maintain this account without any minimum or
average balance requirement. The No Frills Savings Account is aimed at making your
banking transaction simple and convenient. You don't even need to take the trouble of
visiting the branches, you can choose to simply avail of our Internet or Phone Banking
facilities and bank from the comforts of your house.
Insurance:
HSBC has a tie-up with Tata AIG and provides insurance for the following:
• Life Insurance
o Nirvana Pension Plan
o Loan Repayment Protection Insurance
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Credit Card:
Different types of credit cards are offered with various benefits to its clients:
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OTHER SUBSIDIARIES
The HSBC Group has an international pedigree which is unique. Many of its principal
companies opened for business over a century ago and they have a history which is
rich in variety and achievement.
HSBC Asset Management (India) Private Limited offers mutual funds to its
customers. With the Group's Global Fund Management expertise and investment
capabilities, it is able to deliver quality products to meet customers investment
objectives.
Global Resourcing
HSBC Electronic Data Processing (India) Private Limited, through its offices in
Hyderabad, Bangalore and Visakhapatnam provides data processing I customer
service facilities for the HSBC Group's overseas operations.
Insurance
Data processing
HSBC Operations and Processing Enterprise (India) Private Limited, through two
centres in Mumbai and Chennai, provides operational processing services for HSBC
offices in India
HSBC Private Equity Management (Mauritius) Limited a subsidiary of HSBC Private
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Equity (Asia) Limited in Hong Kong, has a Liaison Office in Mumbai. The company
specializes in the provision of equity capital to unlisted growth companies in India
and Sri Lanka.
HSBC Professional Services (India) Private Limited provides internal audit services to
the HSBC Group's internal audit units worldwide, with particular emphasis on the IT,
Treasury, Asset Management, Private Banking and Insurance functions.
HSBC Securities and Capital Markets (India) Private Limited has two main business
lines. It's Institutional and proprietary broking business is based in Mumbai and, has
seats on two of India's premier stock Exchanges, the Bombay Stock Exchange and the
National Stock Exchange. It deals in Indian securities for both Indian and
international institutions and for select retail clients and is backed by an extensive
research team. The Corporate Finance and Advisory business, with offices in Mumbai
and New Delhi, offers a full range of integrated investment banking services in India
and internationally.
Technology:
The HSBC Group develops and applies advanced technology to the efficient and
convenient delivery of banking and related financial services. In India, the Group
provides:
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HSBC PREMIER:
HSBC Premier has been designed to bring to its customers a global proposition
unique in its kind giving the client various benefits and a truly one-to-one banking
relationship. Premier provides new exclusive services to its customers.
HSBC Premier is the group's premium financial services product. The account
typically requires deposits and investments of at least Rs. 25,00,000 its equivalent in
any other currency for other countries.
HSBC Premier offers banking and financial solutions tailored to the needs of its
customers.
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o Transfer pocket money to the child's account and help him/her
responsibly operate his/her account.
o The account also includes a debit card, so that the child can enjoy
financial freedom within the safety zone set by his parents.
• The customer can transfer funds online between me-to-me accounts instantly
and for free.
• He can view and manage his HSBC accounts online through a single logon
using Global View.
• Local country guides to help him prepare by finding out more about the
country the customer is travelling/moving to.
International Recognition:
• The customer can visit any of the International Premier Centres for
preferential service, including telephone and online banking.
• The local HSBC Premier staff offers free and friendly advice on places to go
and things to do while in town.
• If the customer loses his cash and credit cards, he can approach any HSBC
branch overseas to obtain emergency cash.
Investment Expertise:
Global Investment Perspective: With its unique position towards global capabilities,
the Global Investment Perspective newsletter, especially for Premier customers.
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• Available quarterly
Financial Planning:
• The HSBC Premier Relationship Manager will help plan the finances, based
on their needs, goals and risk appetite
• The customers will have the opportunity to review the progress of their
investment portfolio at least twice a year to ensure that the finances are kept
up-to-date.
Travel Guard:
Travel Guard is a "Global Travel Protection" policy underwritten by the Tata AIG
General Insurance Company Limited (Tata AIG). Travel Guard may be purchased by
any resident Indian between the ages of 6 months and 70 years (for travel abroad on
business or leisure).
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HSBC PREMIER CREDIT CARD:
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Best-in-Class Card for an Internationally Traveling customer
• Rewards programme
Competitive Benchmarking:
fig s in I N R A M E X P l a ti n u mC i ti b a n k C i ti -J e t G o ld
S ta n d a r d H S B C P r e m i e r
P l a ti n u m C h a r te r e d
P l a ti n u m
R e w a r d p o in ts e a r n 2e 5d af ot rs e le c t m e r c h a n ts 2 4 J P M ile s ( It's 1 2
IN R 1 0 0 s p e n d ( a ) ( a s s u m e 2 0 % s p e n d ) a n d t h e o n ly o p tio n )
2 .5 a t a ll o th e r o u tle ts
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(b)
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purc has e (a x b)
M ile s c o n v e r s io n f o r IN2 .5
R M ile s o n In d ia 2n .5 M ile s o n J e4 t M ile s o n J e tN o t A v a ila b le3 M ile s o n J e t, 4 M ile s o n
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In d ia n A ir lin e s / A ir In d ia
A nnual fee 5 0 ,0 0 0 6 ,0 0 0 2 ,0 0 0 5 ,0 0 0 C o m p lim e n ta r y
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• Premier status at Jet Privilege
Premier customers to first complete the travel and fill-up details on a form available
on internet or call Premier service center. Jet Airways will credit the miles
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value being met)
• Proactive credit limit enhancements if the customer does not meet the Premier
relationship criteria of INR 2.5 M
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• Time frame within which the criteria is expected to be met
If the basis is Premier status in other country, attach Credit Transfer Form
filled up by PRM of that country
• PRMs to note
• Personal accident insurance of INR 10 M (air accident & INR 1 M for road
/rail accident) complimentary with Premier credit card
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• Cashback at makemytrip.com
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Competitors to HSBC Bank in Lucknow
The following banks are in close competition with HSBC Bank in Lucknow with
respect to the high end product offered by the bank:
• Citibank
• HDFC Bank
• ICICI Bank
Founded 1853
Headquarters London, England, U.K.
Industry Banking
Products Financial Services
Branches over 1700
Slogan Leading the way in Asia, Africa and the Middle
East
Logo
Website www.standardchartered.com
Standard Chartered is listed on the London Stock Exchange and the Hong Kong Stock
Exchange and is among the top 25 constituent members of the FTSE 100 Index.
The name Standard Chartered comes from the two original banks from which it was
founded-The Chartered Bank of India, Australia and China, and The Standard Bank of
British South Africa.
The Chartered Bank was founded by James Wilson following the grant of a Royal
Charter by Queen Victoria in 1853, while The Standard Bank was founded in the
Cape Province of South Africa in 1862 by John Paterson. Both companies were keen
to capitalize on the huge expansion of trade and to earn the handsome profits to be
made from financing the movement of goods from Europe to the East and to Africa.
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Review of Operations:
Consumer Banking
The Consumer Banking offerings include transactional account services, debit cards,
personal and business installment loans and wealth management products through a
branch network across the country. It was the first bank to introduce A TMs, Visa
Electron Debit Cards, Excel Centres, Platinum Visa Cards and many other innovative
products such as Express Trade for SME customers and medical insurance on saving
accounts. OUf mortgage facility is the most desirable in the country, offering
customers the highest maximum limits.
Wholesale Banking
Savings Accounts:
My Dream Account: Save for your children's future with a special account that's
easier for parents to manage.
Payroll Account: A one-stop banking solution for companies and their employees
that improves the way salary payments are managed. The account offers bank-wide
range of benefits to employees and salary process convenience to the employer.
e$aver: Manage your money anytime, anywhere - and watch your savings grow faster
with our most competitive interest rate.
Marathon Saving Account: Enjoy an interest rate that is as attractive as that of time
deposits while enjoying the transaction convenience to your account and withdraw
flexibility to your money at anytime.
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Foreign Currency Account: Start saving your money in multiple foreign currencies!
It's easy with Standard Chartered Bank and it comes with a high interest rate as well.
EXCEL BANKING:
At Excel Banking, the customers start a relationship with the bank - and it is one
where it put their financial needs and personal well-being above all else. Extended to
only an exclusive few, the bank is fully dedicated and focused on the customers' needs
and goals.
With the exclusive Excel Banking Status, the customer can look forward to a world of
financial freedom, rewarding experience and exclusive privileges.
So, whether he is investing, saving or just spending, he can expect to enjoy a suite of
Excel Banking benefits
With the services of the personal Relationship Manager one can access complete
wealth management solutions, from routine banking and transaction management to
more complex investment services and insurance advisory services.
The customers also get fee waivers on premium savings and current accounts and
preferred pricing on a range of complementary banking products and services.
• Exclusive access to our Priority Banking Centres for complete privacy and
comfort
• A wide range of investment and insurance products for you to choose from
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Banking Benefits
• Excel Banking A TM card and one account for Excel privileges and all your
transaction and payment needs
• ATM cash withdrawals at any Standard Chartered ATM or access to atm5 the
Shared A TM Network
Excel Banking helps to meet the financial objectives through wealth management
services. Specifically:
• Premium current accounts & savings account for free. These powerful
accounts are loaded with benefits and help save time & money
• The RM will assist in choosing the best investment avenues to suit the
personal requirements and help monitor and review the customer's portfolio
from time to time.
• Protection of self and loved ones from uncertainties through insurance services
offered by the Bank. There are value added insurance packages as well
specially foe the Excel customers.
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CITIBANK
Founded 1812
Industry Finance
Website www.citibank.com
Citibank is the consumer and corporate banking arm of financial services giant
Citigroup, one of the largest companies in the world. As of March 2007, it is the
largest bank in the United States by holdings. Its single largest shareholder is Prince
AI-Waleed bin Talal of Saudi Arabia, who has a 4.4% stake
Citibank in India:
Citibank India is since 1902. Citibank India was the first bank to lend actively to
individuals. Citibank is the largest Consumer Finance lender in the world. Citibank
India follows the following principles while dealing to its customers:
• Truth in Lending
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Citibank Savings Account
The customers can maximize their wealth so as to meet their future dreams. For this
Citibank's expertise works for them through a Dedicated Relationship Manager &
Personalized Financial Planning.
Dedicated Relationship Manager - who will advise the customer on all the
customers' investment and financial needs.
Savings Account
Citibank Suvidha offers a power packed savings account with online & phone banking
facility, wealth management and much more.
With the Citibank Suvidah Account, one can get the following benefits:
• Instant cash upto thrice the client's salary . Get rewarded for the account
Citibank Cards
Citibank cards are available in a range of flexible and personalized credit and charge
that can be managed online. Undermentioned are few types of Citibank Credit Cards
in India.
• CRY Card
• WWF Card
• Times Card
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Citibank Direct
The Citibank Direct Current Account pays 4.59% AER (4.50% gross). The Citibank
Direct is one of the best rates on the market, with no strings attached. No minimum
deposit is required for Citibank Direct and no need to pay in ones salary. A minimum
annual income of £15,000 is required to open Citibank Direct Account. A chequebook
and automatic overdraft facility are not available in Citibank Direct. Moreover
Citibank Direct Account is easy to manage.
Citibank NRI
Citibank NRI holds over 160,000 Citibank NRI Account. Citibank NRI Account
Holders, holds a minimum balance of Rs. 10 lakhs. Citibank NRI is voted as the most
preferred bank of the NRls.
Corporate Banking:
Citibank provides a host of Investment and Banking services for corporate institutions
the world over. The services range from Cash Management and Foreign Exchange to
Corporate Finance and Securities Services.
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CITIGOLD
• Structured Products
• Savings Plans
Once a customer has agreed to start an account, usually they are assigned a
relationship manager to handle their day to day banking needs and periodically update
their portfolio holdings.
Citigold also has Citigold Select, which is aimed at individuals who can invest in the
excess of US$500,OOO. Perks are probably the best at the Select level where well
heeled customers can expect box seats at the Olympics, Omega watches, first class
airfare, safaris and invitations to exclusive concerts for Citibank's best customers.
Purpose of Citigold:
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The highest level of services:
• An exclusive 24/ 7toll-free customer service number.
• Waived fees:
• Preferred pricing for both home equity line of credit and Checking Plus
(variable rate) overdraft protection.
• Smith Barney Financial Advisors with tools and training to help you create a
diversified portfolio.
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How it works:
To be eligible to hold a Citigold account, the client has to hold a minimum balance of
Rs. 10, 00,000 with the bank either in the form of investments in mutual funds, fixed
deposits, balance in savings and current account, or insurance.
• A set of term and endowment insurance policies to take care of the needs of
protection of wealth
• Investments into mutual funds in tie-up with private mutual fund houses.
• A range of asset products like Personal, Home and Auto loans at a special
relationship pricing.
• The power to manage the foreign exchange flows in the most efficient manner.
• Global investments.
From an understanding of what the financial goals are, the Citigold Relationship
Manager will advise on which savings and investment products best fit the financial
objectives.
Citigold Advantages:
Citibank Multi- Currency EEFC Account: this unique account allows pening
accounts in multi-currencies: Dollar, Pond, Euro and Yen.
Citibank Stock Power: Citigold ensures to get the most out of the security portfolio
with Citibank Stock Power. It has over 200 approved securities and mutual funds to
get cash against the portfolio at attractive interest rates
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Citibank Loans:
Citibank in Lucknow provides personal loans to its Citigold customers to the extent of
20% of the NQB (net quarterly balance) without much formalities and paperwork.
A Citigold customer enjoys a host of exclusive privileges designed to bring the best of
the services and benefits:
• The client gets a chance of being a part of the Elite Club & lifestyle with 24K
• Concierge Services
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HDFC BANK LTD.
Founded 1994
Website www.hdfcbank.com
The bank offers many innovative products & services to individuals, corporates,
trusts, governments, partnerships, financial institutions, mutual funds, insurance
companies. It is a pathbreaker in the Indian banking sector.
HDFC Bank Preferred Banking programme is designed for the royalty of today. It
seeks to enhance the exclusivity and pampers the customers with services that others
can only dream about
HDFC Bank's Preferred Banking Programme is the royal decree that enhances the
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exclusivity that one is accustomed to. It makes one feel special at every step,
pampering him with services those others can only dream about. Imperia goes beyond
the obvious, rises above the expected, so that the whole world can see, that even
today, the grandeur and magnificence of royalty is alive and well.
The customer benefits from the Relationship Pricing Programme with exclusive offers
such as a free Gold International Debit card, a free International Titanium card or a
free International Gold Credit Card, loans at preferential rates, etc.
Benefits:
The personal Relationship Manager is just a phone call away. These experienced and
professionally trained individuals will cater to all the banking and financial services
needs. So, whether it is expert advice seek on mutual funds or the urgency of having a
demand draft issued, the Relationship Manager is there to get the job done promptly
and efficiently.
Investment Options:
The customer has a wide range of investment options to choose from- Mutual Funds,
Ri31 Relief Bonds, Insurance and other tax effective investment avenues like
Infrastructure Bonds.
E-Broking:
HOFC Bank offers a gateway for e-broking, via HOFC Securities Trading Account, to
facilitate T +2 settlements at a special price. The Savings Bank Account and the
Demat Account can be linked to the Securities Trading Account thus allowing
seamless flow of funds and shares between accounts.
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Expedite Tax Payments:
The customer can step into the branch and pay tax through HOFC Bank heque and
Collect their challans immediately over the counter.
Relationship Pricing:
The customer can get preferential pricing across a wide range of financial products
like credit cards, loans, Oemat Account, HOFC Securities Trading Account.
Business Solutions:
The bank also caters to the financial needs of business through business loans like
Working Capital Overdrafts, Trade Finance or Commercial Vehicle Loans.
• DD cancellation charges
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• Hold Mail charges
• FIRC charges
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ICICI BANK LTD.
Founded 1955
Website www.icicibank.com
ICICI Bank (formerly Industrial Credit and Investment Corporation of India) is India's
largest private sector bank in market capitalization and second largest overall in terms
of assets. ICIGI Bank has total assets of about USD 79 Billion (end-Mar 2007).
ICICI Bank offers a wide range of banking products and financial services to
corporate and retail customers through a variety of delivery channels and through its
specialized subsidiaries and affiliates in the areas of investment banking, life and non-
life insurance, venture capital and asset management. ICIGI Bank's equity shares are
listed in India on stock exchanges at Kolkata and Vadodara, the Stock Exchange,
Mumbai and the National Stock Exchange of India Limited and its ADRs are listed on
the New York Stock Exchange (NYSE).
ICICI Bank has grown from a development bank to a financial conglomerate and has
become one of the largest public financial institutions in India.
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The ICICI Group comprises ICICI Bank and various subsidiaries/associates in the
areas of life insurance (joint venture with Prudential of UK. India's largest private
player), general insurance (joint venture with Lombard, Canada and India's largest
private player) asset management (joint venture with Prudential of UK), investment
banking (India's largest bond house) and venture capital (India's largest venture funds
management company). The ICICI Group is committed to the communities in which
it operates and supports a diverse range of social projects in the areas of primary
education and healthcare.
ICICI Bank is India's foremost technology bank and pioneered Internet banking in
India. Today, it has 5 million customers on the Internet. It was awarded the "Best
Bank of the Year from the Emerging Markets" by The Banker (Financial Times) for
2001 and "Bank with the Best Channel Strategy" by The Banker (Financial Times) for
2002.
A key initiative of the group's international strategy has been the incorporation of a
wholly owned UK banking subsidiary, ICICI Bank UK Limited, in London. ICICI
Bank UK Limited undertakes both retail and corporate banking activities. The retail
activities focus on deposit taking and business banking for its ethnic high net worth
client base.
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WEALTH MANAGEMENT
Deposits:
ICICI Bank offers a wide variety of Deposit Products to suit the requirements.
Convenience of networked branches / ATMs and facility of E-channels like Internet
and Mobile Banking is available to its customers.
Savings Account:
Fixed Deposits:
Safety, Flexibility, Liquidity and Returns!!!
The bank offers a combination of the above mentioned unbeatable features of the
Fixed Deposit from ICICI Bank.
Recurring Deposits:
When expenses are high, one may not have adequate funds to make big investments.
An ICICI Bank Recurring Deposit lets one invest small amounts of money every
month that ends up with a large saving on maturity. So now the customers can enjoy
twin advantages- affordability and higher earnings.
Easy receive account is a unique savings account that caters to domestic banking
needs, while offering additional benefits for remittances received in the account from
abroad.
A Savings Account needs to do more after one reaches the age of seniority; the bank
understands these concerns for safety and security. It has an ideal Savings Bank
Service for those who are 60 years and above the Senior Citizen Services from ICICI
Bank has several advantages that are tailored to bring more convenience and
enjoyment in life.
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Cards:
ICICI Bank offers a variety of cards to suit the different transactional needs. Its range
includes Credit Cards, Debit Cards and Prepaid cards. These cards offer convenience
for financial transactions like cash withdrawal, shopping and travel. These cards are
widely accepted both in India and abroad.
Credit Cards:
Credit Cards give a smart way to shop, and offer flexibility and convenience in
managing the finances. ICICI Bank credit cards provide a host of exciting offers and
benefits such as low interest rates, rewards programs, and a high credit and cash limit.
ICICI offers different types of credit card to suit the different needs and requirements
for added features. As a Wealth Management customer the customer will be eligible
for a Personalized Credit Card. With this credit card he can avail of preferential
treatment, discounts, rewards and privileges at the finest resorts, hotels, restaurants,
shopping malls, spas and health clubs.
Debit Card:
The ICICI Bank Debit Card is a revolutionary form of cash that allows the customers
to access their bank account around the clock, around the world. The ICICI Bank
Debit Card can be used for shopping at more than 3.5 lakh merchants in India and 24
million merchants worldwide. The customer also has his very own Personalized
Wealth Management Platinum Debit Card. This card brings together a host of benefits
and offers that are valid both nationally and internationally recognized.
Get your own private space at exclusive Wealth Management Zones in select ICICI
Bank branches.
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A Dedicated Wealth Manager:
Wealth Management Products:
• Online Trading and Mutual Funds
• Mutual Funds
• Customized Products
o Structured products
o Alternate Asset Products
• Fixed Deposits
The Wealth Manager is only a part of the larger team which ensures that money works
harder. Working silently behind the scenes is a team of product experts. These
handpicked experts have a wealth of financial experience under their belt and will
assist in decision-making process.
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DATA INTERPRETATION
ACCOUNT HOLDING
40
35
30
25
20
15
10
0
HSBC CITI Bank Standard HDFC ICICI Bank
Chartered Bank
50
PrefferedBankingwith bank
No
31%
Yes
69%
Interpretation shows that 69% of the people hold preferred banking with the bank and
the remaining 31% don’t.
51
Helpin financial planning
Yes No
28%
72%
Interpretation shows that 72%people get help in financial planning remaining 28%
people don’t.
52
Updateson investments
Yes No
35%
65%
Interpretation shows that 65% people get updates on their investment from the bank
remaining 35% don’t .
53
Service Rating
Poor
Excellent 8%
16%
Fair
23%
Good
53%
54
InvestmentTypes
55
Detailsabout Investments
Yes No
3%
97%
Interpretation shows that 97% say yes that the bank gives all the details on the
investment and the remaining 3% says no.
56
Clearknowlede given bythe the bank
8%
Yes
No
92%
Interpretation shows that the 92% people say yes that their bank gives a clear
knowledge about the investment they are going to do with them remaining 8% says
no.
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Actionagainstcomplain
No
Yes
0% shows
Interpretation 10% that20% 30% say40%
70%people that the50% 60% action
bank takes 70%against their
complain and the 30% says that no action is taken.
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FINDINGS:
HSBC can succeed in their niche markets and be the innovators in terms of
technology introduction in the domestic scenario. The outlook of the Private sector
Banks look to be very promising. While their focused operations lower but more
productive employee force is what the Bank is looking at and also to give the Best in
Terms of Services which every customer wants.
CONCLUSIONS:
I used the above questionnaire and my sample size was about 50 people and thus my
conclusion on the study was the following:
2.) Many of the people are still not aware about the HSBC Bank in
Lucknow.
4.) Lucknow has a Potencial Market for HSBC Premier because HSBC
has a lot to offer that not every bank is giving.
5.) People are still not comfortable with Financial Planning with a third
party.
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BIBLIOGRAPHY
REFERENCE BOOKS:-
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QUESTIONAIRE ON HSBC BANK:
Q1 Which Bank are you customers with?
61
Q9 Does your Bank give you a clear Knowledge of
the Investments you are going to do with them?
Personal Information:
Name: _________________________
Address: _________________________
_________________________
_________________________
Mobile#: _______________ Fax#: ____________________
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