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.
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