The expansion in Tier 1 capital reinforces Barclays’ commitment to India, and will enable further growth of the Bank’s Corporate & Investment Banking and Private Clients businesses, the bank said.
Pedestrians walk past the Barclays Center, which is home to the Brooklyn Nets (Image: AP Photo/John Minchillo, File)
Foreign lender, Barclays Bank PLC India on August 26 said it will infuse over Rs 3,000 crore in India to boost its local growth. With this infusion, total invested capital in the country will increase to over Rs 8,300 crore, the bank said in a release.
The expansion in Tier 1 capital reinforces Barclays’ commitment to India, and will enable further growth of the Bank’s Corporate & Investment Banking and Private Clients businesses, the bank said.Over years, Barclays has built a market-leading business in the country in top tier financing, advisory and risk management businesses within the Investment Bank, Corporate Banking including cash management and trade finance, and significant growth of assets under management by the Private Clients business.
“The capital infusion in the Bank reflects the success and strong track record of our India franchise built over the last 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,” said Jaideep Khanna, Head of Barclays, Asia Pacific and Country CEO, India.
"As economic activity gathers momentum, there is increased demand for capital from clients. We are well placed to support their objectives and remain committed to working closely with them,” added Khanna. Barclays currently ranks first in the DCM league table among all banks in India with a 14.3% market share year to date.Barclays Bank to infuse over Rs 3,000 crore capital in India operations - Moneycontrol
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