Reliance Cap to expand overseas

Agencies
Posted: Sunday, Jul 05, 2009 at 1454 hrs IST
Updated: Sunday, Jul 05, 2009 at 1454 hrs IST

Font Size

Feedback

Discuss

Banking reforms dominate G-20 talks G20 should consider bank tax urgently: UK SBI slashes deposit rates by 0.25-0.5%IDBI FPO in Jan, to raise $500 million

Mumbai: Anil Ambani group company Reliance Capital is planning to enter the domestic banking sector--when the regulations allow-- and expand its overseas presence.

"We have drawn up exciting growth plans for the next three to five years," R-Cap Chairman Anil Ambani informed the shareholders.

These growth plans include entering "the banking sector as and when regulations permit (and) globalise operations by leveraging our domestic experience and capabilities to expand our asset management, life insurance and broking operations in emerging markets across Asia, Africa, and the Middle East".

Besides, the company aims to increase its customer base from 15 million to 50 million, increase the distribution reach from 5,000 to 20,000 cities and towns and increase number of business partners from half a million to one million, Ambani added.

"Together, these initiatives will further accelerate our growth and lead to substantial value creation for each of us," Ambani said in his letter to shareholders which is being sent to them as part of Reliance Capital's Annual Report for 2008-09 ahead of its AGM on July 21.

Post Comments

Comments: (Limit 3,000 characters)

Name		Message
Email ID
Subject

TERMS OF USE:
The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).

I agree to the terms of use.