Barclays Bank PLC India has announced a capital infusion of more than Rs 2,300 crore (£210 million) from its headquarters across its investment banking and private banking businesses.
The latest round of capital infusion reaffirms its long-term commitment to India, one of the world’s fastest-growing economies, the British bank said in a statement on March 18.
“India’s economic potential continues to present attractive opportunities for Barclays to grow its business. The capital injection reaffirms our commitment to India as a strategically important location for the bank and enhances our ability to support our clients’ capital needs,” said Jaideep Khanna, CEO, Barclays Asia Pacific, Head of Markets, Asia Pacific (interim), and Country CEO, India.
The investment follows Barclays’ infusion of Rs 3,000 crore (£300 million) in 2021, taking its total invested capital in the country to over Rs 12,400 crore (£1,100 million). The fresh capital will allow Barclays to expand its reach among corporate clients, financial sponsors, and ultra-high-net-worth individuals (UHNWIs).
Barclays has been in India for nearly 35 years, offering financing solutions, M&A advisory, debt capital markets, risk management, and cash and trade services. Its private banking division provides investment, lending, and wealth advisory solutions to UHNWIs and family offices.
“The additional capital allows us to further strengthen our position as a trusted financial partner to our clients, particularly in sectors where we see significant growth opportunities. We remain focused on delivering innovative solutions and helping our clients scale their businesses” said Pramod Kumar, CEO, Barclays Bank PLC and Head of Investment Banking, India.
Barclays' latest move aligns with its broader growth strategy in the Asia Pacific region, where it has been present for over 50 years. The bank caters to corporate and institutional clients across markets such as Australia, Hong Kong SAR, Japan, Mainland China, Singapore, and Taiwan, linking them to capital markets in the UK, Europe, the US, and APAC.
The Barclays Global Service Centre (BGSC) in India continues to support the bank’s worldwide operations, providing technology, operations, and business solutions.
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