BNP Paribas increases capital with fresh equity infusion

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The BNP Paribas Group reaffirms its continuing commitment to growing its activities and presence in India by a further injection of Euro 100 million (approximately Rs. 570 crores) in the last quarter of 2007 in its Indian operations. With this latest equity infusion, the capital base of the Bank will significantly grow to approx over Rs.1, 600 crores. This is in addition to the group's investment in various joint ventures in the country over the last 3 years.

 

Statement of Mr. Frederic Amoudru, Chief executive and Country head of BNP Paribas India: "With this enhanced capital base we will be able to offer enhanced credit limits to our clients for borrowing in local currency which is critical in views of the curbs that the RBI has imposed on ECBs. It will also enable us to become more active in local currency Project Financing, an area we had avoided so far for lack of a sufficient local capital base".

 

In India, BNP Paribas is a very active player in Corporate & Investment Banking offering products across businesses viz ; Fixed Income & Debt Capital Markets, Corporate Finance, Structured Finance, Energy & Commodities financing, Cash Management & Trade, Export & Project Finance and soon Institutional Brokerage. It has a strong presence in the Private Banking arena offering world class capabilities customized solutions to its clients.

 

The Group has further diversified into other areas via its Asset Management as well as Housing Finance JV's with Sundaram Group, Life Insurance JV with SBI , Personal Investment Services JV with Geojit Financial Services and Fleet Management with Arval India.   

 

Another partnership is also under completion between BNP Paribas Lease Group (Equipment Solutions) and SREI Infrastructure Finances . 

 

Sourced From: Prana Public Relations