Barclays infuses Rs 3,000 cr into India operations
The bank's overall capital invested in India has gone up to Rs 8,300 crore, with its single largest fund infusion in its three decade journey in India
In a move to facilitate growth, Barclays Bank has infused capital of Rs 3,000 crore in Indian operations, on Thursday, PTI reported. The British lender’s capital base has increased by 55%, which would enable them to take significantly higher exposures to a group or a borrowing entity. With the single largest fund infusion in its three-decade journey in the country, the bank’s overall capital invested in India has gone up to Rs 8,300 crore.
The bank has 600 employees working in India, with its operations spread across four branches. It is into wealth management, investment and corporate banking. In 2009-10, the bank had invested Rs 540 crore into its India operation, which was its last capital infusion.
Increased demand for capital from clients
In a statement from the bank, it said that the expansion in tier-1 capital reinforces its commitment to India, whereas a part of its investment bank function is providing financing, advisory, risk management, and an entire suite of corporate banking capabilities including cash management and trade finance. It also added that there is an increased demand for capital from clients.
Earlier, German lender Deutsche Bank had invested Rs 2,700 crore in August 2020. Singapore’s DBS received Rs 2,500 crore from its parent company, after announcing a deal to merge with troubled Lakshmi Vilas Bank. This was the last capital infusion in India by a major foreign lender.