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| Barclays opens Hyd branch |
| BS Reporter / Hyderabad Nov 19, 2009, 00:00 IST |
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Barclays Global Retail Banking (GRB), India, the retail banking business of financial services provider Barclays, is evaluating possible targets for mergers and acquisitions to accelerate its growth in the country. It has been growing at two branches a year in the last three years, according to interim managing director and chief operating officer Ram Gopal.
Speaking to the media here on Wednesday to announce the launch of its Hyderabad operations, he said the present market conditions would allow some opportunities for acquiring other banks.
Barclays has 1.8 billion pound (Rs 13,860 crore) on its balancesheet from India operations including about one billion pound (Rs 7,700 crore) from retail and another 80 million pound (Rs 6,160 crore) from corporate business segments, he said.
The Hyderabad branch is its seventh in the country. The others are at Mumbai, New Delhi, Junagadh near Rajkot, Kanchipuram (near Chennai), Nelamangala (near Bengaluru) and Ahmednagar in Maharashtra.
He said Barclays would focus on the retail segment as there is scope to grow in home loans, loans against properties and personal loans among others. It will also broaden its offerings in savings, wealth management and wealth generation.
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