Barclays Bank India on Thursday stated that its London-based head workplace will make an investment of more than Rs 3,000 crore in the India workplace to accelerate its development ambitions in the nation. With this infusion, the bank’s total invested capital in the nation will enhance to more than 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 most up-to-date infusion will be the biggest one-time infusion made by the parent into the India operations due to the fact its inception.
The expansion in tier-I capital will allow additional development of the bank’s corporate and investment banking and private clients’ enterprises. “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 stated in a statement.
Jaideep Khanna, head of Barclays, Asia Pacific and Country CEO, India, stated that the capital infusion in the bank reflects the achievement and powerful track record of the bank’s India franchise constructed more than the previous 3 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 stated.
As financial activity gathers momentum, there is an enhanced demand for capital from consumers and Barclays Bank India is properly placed to help their objectives, Khanna added.
As portion of its expansion plans in the nation, Barclays Bank Plc also inaugurated its international banking unit (IBU) branch at Present City in Gujarat in February 2021.