26th Aug 2021 06:47
(Alliance News) - Barclays PLC on Thursday said it will make an investment of over INR30.00 billion, about GBP293.7 million, in its Indian unit to accelerate its growth ambitions.
With this cash infusion, the FTSE 100-listed lender said its total invested capital in the country will increase to over INR83.00 billion.
Barclays said the investment will enable further growth of its Corporate & Investment Banking and Private Clients businesses in India.
As part of its expansion plans in the country, Barclays Bank PLC also inaugurated its International Banking Unit branch at GIFT City in Gujarat back in February.
"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 we look to leverage the attractive opportunities that the present situation offers," said Jaideep Khanna, head of Barclays Asia Pacific & country chief executive of India.
"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.
Barclays shares closed 0.9% higher in London on Wednesday at 183.52 pence each.
By Evelina Grecenko; [email protected]
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