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Home / Industry / Banking /  Barclays infuses over 3,000 crore into India unit

Mumbai: Barclays Bank PLC India on Thursday announced an investment of over 3,000 crore in the bank by its head office to accelerate its growth ambitions in India. With this infusion, the bank’s total invested capital in the country will increase to over 8,300 crore.

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 British bank said in a statement.

Barclays said it has built a market-leading business in the country as demonstrated by its top tier financing, advisory and risk management businesses within the investment bank, the entire suite of corporate banking capabilities, including cash management and trade finance, and significant growth of assets under management by the private clients business for several of India’s high and ultra-high net worth individuals and family offices.

Jaideep Khanna, head of Barclays, Asia Pacific and country chief executive in India said that the capital infusion in the bank reflects the success and strong track record of its India franchise built over the last three decades.

“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. 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," added Khanna.

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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