The Hongkong and Shanghai Banking Corporation is looking at investing over $400 million in India with organic growth driving expansion.
The foreign bank plans to open 5-10 new branches and launch consumer finance business next year as part of business plans.
India and China are strategically important markets over medium and long term and both are critical for future growth of the bank, HSBC chief executive officer (Asia Pacific) Micheal Smith said on Wednesday.
HSBC cumulative investments in China are about $3 billion and it would be comfortable for cumulative capital exposure of $1 billion or more in India, Smith said.
There is no specific time frame for investments in India, he added.
Niall Booker, HSBCs India chief executive said, the bank has invested about $600 million in the country which includes financial investment in UTI Bank.
Smith said: "The bank wants to grow fast through organic route" and legal environment for acquisitions would not impact business plans.
Though HSBC would look at acquisitions, subject to regulations, it would prefer organic route for growth despite longer payback period than pay a premium for acquisition.
Asked about the investment in UTI Bank, he said it was a financial investment and would be happy to broaden business relationship.
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