Britain’s oldest wealth management services bank has decided to accelerate its growth ambitions in India with an investment of over ₹3,000 crore.
Barclays Bank PLC, UK has made an investment of over ₹3,000 crore in its unit Barclays Bank PLC India to accelerate its growth ambitions in India.
With this infusion, the bank’s total invested capital in India will increase to over ₹8,300 crore.
The latest investment is the single largest one time Infusion made by the bank since the inception of the Indian unit. The last infusion was ₹540 crore made in 2009-10.
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, it said in a statement.
Jaideep Khanna, Head of Barclays, Asia Pacific and Country CEO, India, said “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 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.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
