Business Daily from THE HINDU group of publications
Monday, Oct 06, 2008
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Business Daily from THE HINDU group of publications Monday, Oct 06, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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Credit Market Industry & Economy - Infrastructure German bank eyeing core sector lending in India Our Bureau Mumbai, Oct. 5 German bank Norddeutsche Landesbank, which inaugurated its representative office in Mumbai recently, has commitments for €600 million from Indian companies. The bank is looking at financing companies in core sectors such as steel, oil and gas, shipping, aircraft and renewable energy, said Mr Dilip Umralkar, Chief Representative, India, NORD/LB. “We see India as a huge market for our business. We are strong in transport, shipping, aircraft, energy, logistics and infrastructure financing. And these are areas where there is strong demand in India,” said Dr Hannes Rehm, Chairman of the Board of Management, NORD/LB. He also said the bank’s strong reputation has helped it to raise resources even in the current economic slowdown, “NORD/LB is not affected by international financial crisis,” he said. The bank, which has a balance sheet of €238.99 billion as on June 30, 2008, is the Landesbank for the federal states of Lower Saxony and Saxony-Anhalt. Over the last few years, the bank has built up a business of around €400 million in India through its Asia-Pacific Centre. The bank’s offices in Asia include a branch in Singapore, a representative office in Beijing and branch in Shanghai. The bank is also planning to open a representative office in Dubai. More Stories on : Credit Market | Infrastructure | Foreign Banks
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