| The services which would be part of commercial banking operations would include lending supply chain financing, structured trade finance, risk management and corporate liquidity management |
Is in talks with the Reserve Bank of India in order to get license to increase their branch network
Mr Roberts also said that they are in talks with the RBI in order to get license to increase their branch network. The corporate banking operation would require more number branches, apart from the existing branch in Mumbai. Moreover on the man power front, the corporate banking business would recruit around 150 people over the medium term. Of which 40 people would be recruited in the first year.
Speaking on the India operation Robert Morrice chief executive Asia pacific said: If we consider the client flows, India contributes to around 25% of the Asia pacific. It is second growing market in Asia in terms of revenue growth.