Citi, Standard Chartered, HSBC betting high on consumer loans in rising economy

MUMBAIL: Banks like Citigroup, Standard Chartered and HSBC, which had gone slow on consumer loans during the credit crisis, have started ramping up the business as bad loans decline and soaring interest rates reduce other borrowings. After a decline in fiscal 2010, consumer loans are picking up due to increase in salaries and better job prospects, with the economy poised to grow 9%.

Source: EconomicTimes