BNP Paribas Group injects Rs335 cr in Indian ops

BNP Paribas Group injects Rs335 cr in Indian ops
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First Published: Wed, Aug 13 2008. 12 32 PM IST
Updated: Wed, Aug 13 2008. 12 32 PM IST
Mumbai: The BNP Paribas Group has injected Euro 50 million (about Rs335 crore) in its Indian operations.
“With this, the capital base of the bank will cross Rs2000 crore in India. The latest equity infusion took place on 26 June,” a BNP Paribas release said. A higher equity base helps a bank grow its assets.
“Despite a globally challenging environment, BNP Paribas pursues its steady and disciplined growth strategy in India with both organic and inorganic investments. Step by step we are deploying in India, the whole range of our capabilities to service our clients,” said Frederic Amoudru, chief executive and country head of BNP Paribas in India.
The French financial conglomerate which has presence in 85 countries is an active player in corporate and investment banking in India. It is also present in private banking.
It has recently diversified into asset management, mortgage and leasing businesses.
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First Published: Wed, Aug 13 2008. 12 32 PM IST