The Hindu Business Line : JP Morgan keen on India, says CEO

Bangalore, Sept. 26 India and China are key countries for financial services major JP Morgan Chase & Co and the bank would continue its growth thrust in India with a PE investment of around $800 million to $1 billion in the next two years, said its CEO, Ms Kalpana Morparia, in Bangalore on Friday.

“There’s no diminishing interest in the countries,” she said in response to a question whether US is sceptical of the growth of the Indian economy.

Speaking to reporters at a CII meet on women leaders, Ms Morparia said that the investments would be in the form of equity and quasi-equity instruments and it would be spread across sectors.

“We are committed to corporate finance, asset management and investment banking, but have no plans of entering retail banking area in the country as of now,” she said.

But the bank was always looking at both organic and inorganic opportunities for growth, she said, commenting on acquisition plans in India.

Market watch

Expressing an optimistic view of the stock market, she reasoned that rising per capita income and increasing domestic savings would propel the market in the country. But even with inflation falling marginally, she did not expect interest rates to change soon.

More Stories on : Financial Services

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
JP Morgan keen on India, says CEO

Draft norms for money changers

New pension plan may be extended to unorganised sector

Rupee weakens by 33 paise

Currency futures trading on BSE from Oct 1

‘Health insurance penetration below national average in AP’

ING Vysya Bank plans 56 more branches

G-sec auctions devolve on PDs

‘Standalone SMEs might find the going tough’

Forex reserves see $2.51-b spike

Call rates lower