London based Barclays Bank said it will infuse over ₹3,000 crore in India to boost its local growth. With this infusion the total invested capital in the country will increase to over ₹8,300 crore, it added.
Barclays, which exited retail business in India in 2011, said investment will help grow its corporate and debt investment banking, as well as private clients businesses. Previously , the bank has invested upto Rs.540 crore and was 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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