Barclays Bank to infuse over Rs 3,000 crore into India business

By: |
August 27, 2021 2:00 AM

The last round of capital infusion was to the tune of Rs 540 crore and was made in 2009-10. The latest infusion will be the largest one-time infusion made by the parent into the India operations since its inception.

As economic activity gathers momentum, there is an increased demand for capital from clients and Barclays Bank India is well placed to support their objectives, Khanna added.As economic activity gathers momentum, there is an increased demand for capital from clients and Barclays Bank India is well placed to support their objectives, Khanna added.

Barclays Bank India on Thursday said that its London-based head office will make an investment of over Rs 3,000 crore in the India office to accelerate its growth ambitions in the country. With this infusion, the bank’s total invested capital in the country will increase to over Rs 8,300 crore.

The last round of capital infusion was to the tune of Rs 540 crore and was made in 2009-10. The latest infusion will be the largest one-time infusion made by the parent into the India operations since its inception.

The expansion in tier-I capital will enable further growth of the bank’s corporate and investment banking and private clients’ businesses. “Barclays has built a market leading business in the country as demonstrated by its top tier financing, advisory and risk management businesses within the investment bank, the entire suite of corporate banking capabilities, including cash management and trade finance, and significant growth of assets under management by the private clients business for several of India’s high and ultra high networth individuals and family offices,” the bank said in a statement.

Jaideep Khanna, head of Barclays, Asia Pacific and Country CEO, India, said that the capital infusion in the bank reflects the success and strong track record of the bank’s India franchise built over the past three decades. “We have ambitious growth aspirations, and the investment will help accelerate that as we look to leverage the attractive opportunities that the present situation offers,” he said.

As economic activity gathers momentum, there is an increased demand for capital from clients and Barclays Bank India is well placed to support their objectives, Khanna added.

As part of its expansion plans in the country, Barclays Bank Plc also inaugurated its international banking unit (IBU) branch at GIFT City in Gujarat in February 2021.

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