One of the leading international financial organization operating in India, the HSBC Financial Services (Middle East) has recently announced that it has increased its stake in Yes Bank to about 4.88% over a period of two months. The officials of the company have stated that they have increased the stake as the company is expecting a huge growth in the Indian banking sector very soon.
The sources from the company have informed that the exposure of the HSBC Financial Services (Middle East) Ltd in the new generation private sector bank, Yes Bank was standing at 0.85% on 25th January. The sources added that this stake has been increased to a little over 4.88% at the end of 21st March and the global investor has also increased its shares holding from 2.49 million to 14.49 million. According to one of the top officials from the Yes Bank, the bank had reported a net profit of Rs 135.52 crore for the period ended 31st December, 2007.
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| Posted : 3/27/2008 |
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