Money & Banking

Barclays announces ₹3,000 cr investment in India operations

Our Bureau Mumbai | Updated on August 26, 2021

Single largest capital infusion by British bank, taking India investment beyond ₹8,300 crore

Barclays Bank PLC India on Thursday announced that its head office had invested in it over ₹3,000 crore to accelerate its growth in India.

With this infusion, the British bank’s invested capital in the country will increase to over ₹8,300 crore, according to a statement.

This is its single largest capital infusion so far in its India operations. It had previously infused ₹540 crore in 2019-10, a spokesperson said.

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“The expansion in Tier 1 capital reinforces Barclays’ commitment to India, and will enable further growth of the bank’s corporate and investment banking and private clients businesses,” the statement said.

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.

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“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.”

Khanna observed that 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,” he added.

Barclays Bank’s operations in the country comprises financing, advisory and risk management businesses within investment bank; corporate banking, including cash management and trade finance; private clients business for high and ultra high networth individuals and family offices.

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

Published on August 26, 2021

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