In a bid to extend its footprint into the Indian market, German bank Norddeutsche Landesbank plans to set up wholesale banking operations in India.
?There is a huge opportunity in India. We offer complex, customised structured financing loans, particularly in growth segments such as transport, notably ship and aircraft financing, energy, logistics, infrastructure and real estate banking. All these sectors are most relevant for an emerging market like India,? said Hannes Rehm, chairman of the board of management at NORD/LB.
The bank also plans to concentrate on transport, shipping, aircraft, energy, logistics and infrastructure financing, where it feels is strong enough. ?There is a strong demand in India for all these sectors, which we would be keen on exploring,? Rehm said.
Rehm also said the bank would be making use of its strong project financing expertise, especially in the areas of renewable energies and infrastructure, essentially covering public private partnership structures.
?We will continue to expand our portfolio in our chosen fields. With India?s high growth rate, we don?t see why we should not be able to double our existing portfolio of about 600 million euros in the next three to four years,? he said.
?In each of these areas, we intend to be a leading financier, with India presenting such opportunities of growth to NORD/LB,? said Rehm.
The German bank would also be keen on expanding into China, apart from India.
?We follow a growth development strategy for the Asia-Pacific region. The region has seen significant investments in the fields relevant for us. With substantial investments being made by corporates and government supported private sector initiatives, we have identified India and China as prominent markets for our growth,? said Rehm.
Keeping in mind the opportunity to expand into the country, NORD/LB established its representative office in Mumbai, last month.
However, the German bank has no immediate plans to open up a branch in India. ?We will reassess our strategy when the business environment becomes conducive, along with a healthy growth in our India portfolio,? said Rehm.
With the help of the representative office, NORD/LB plans to focus on exploring and seeking opportunities for financing.
