Barclays infuses Rs 2,300 crore into Indian operations

UK based Barclays Bank has infused over Rs 2,300 crore (£210m) into the Indian operations, its second capital injection into the country in four years.

With this additional investment, the bank’s total invested capital in the country will increase to over Rs 12,400 crore (£ 1,100m), the bank said.

"This capital injection will strengthen the bank’s balance sheet and help grow its businesses across the investment bank and the private bank, enabling it to expand its reach to a wider client base across corporate and financial sponsor clients and ultra-high-net-worth individuals in India," Barclays said in a statement.

The last capital injection was of over Rs 3,000 crore (£300m) in 2021.

“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, Asia Pacific, Barclays.

The UK bank which had started as a retail venture in India back in 2006, currently offers M&A advisory, debt capital markets, risk management solutions, cash, trade and working capital in India. The bank also provides investments, lending, and wealth advisory solutions to ultra-high-net-worth (UHNW) individuals 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 in India," said Pramod Kumar, CEO and head of investment banking in India.