Barclays Bank sees capital infusion enabling further growth in India
New Delhi: Barclays Bank PLC India will make an infusion of Rs 3,000 crore in India. The pumping in of money into the foreign lender’s India operations is aimed at boosting local growth. The new investment would take the bank’s total invested capital in the country to more than Rs 8,300 crore.
According to Money Control, the expansion in Tier 1 capital is expected to enable further growth of the Bank’s Corporate and Investment Banking and Private Clients businesses in the country.
Barclays has been a prominent foreign player in the banking landscape of India for quite a while now. The lender has already given shape to a market-leading business in the country in top tier financing, advisory, and risk management businesses within the Investment Bank, Corporate Banking including cash management and trade finance, and significant growth of assets under management by the Private Clients business, the report added.
The report quoted Jaideep Khanna, Head of Barclays, the Asia Pacific and Country CEO, India, saying that the capital infusion shows the bank’s success and strong track record in its India franchise over the last three decades.
Barclays Bank lines up ambitious plans for India
Barclays Bank has also said that it has lined up ambitious growth plans, for which the investment will come in handy. The capital infusion is expected to speed up its plans as it strives to leverage all the attractive opportunities that the present situation has been offering in the country.
Barclays is at the top of the DCM league table among all banks in India, with a 14.3% market share year to date. The foreign lender recognizes the increase in demand for capital among its clients in the scenario of accelerated economic activity. In this context, Barclay’s has readied itself to support such needs and to work closely with these clients, the report said.