Commenting on HSBC, the head of direct sales of one of its rival banks said,

"HSBC isn't seen as being as aggressive as its rivals in the market. It has
extremely good relationships with its branch customers and serves them
very well, but it is just not seen as being aggressive in the rest of the
market." HSBC's complacency was reflected in the bank's financial
performance
The Hong Kong and Shanghai Banking Corporation Limited (HSBC) entered
India as early as 1959. Despite being one of the oldest and well-established
foreign banks, HSBC had been lagging behind local private sector banks and
other foreign banks in India in terms of business network and growth. HSBC's
competitors and industry experts regarded it as a conservative bank that
lacked competitive spirit.