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Barclays Bank to pump in over Rs 3,000 cr in India operations

Barclays Bank to pump in over Rs 3,000 cr in India operations

With the infusion, the bank's total invested capital in India will increase to over Rs 8,300 crore

As part of its expansion plans in the country, Barclays also inaugurated its International Banking Unit (IBU) branch at GIFT City in Gujarat in February 2021 As part of its expansion plans in the country, Barclays also inaugurated its International Banking Unit (IBU) branch at GIFT City in Gujarat in February 2021

Foreign lender Barclays Bank PLC India, on Thursday, announced an investment of over Rs 3,000 crore in India operations to "accelerate its growth ambitions" in the country. 

With the infusion, the bank's total invested capital in India will increase to over Rs 8,300 crore.

"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," Barclays said.

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Over the years, the bank 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.

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"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.

As part of its expansion plans in the country, Barclays also inaugurated its International Banking Unit (IBU) branch at GIFT City in Gujarat in February 2021.