Barclays to offer commercial banking soon

Barclays Plc, Britain's third largest bank, is planning a big leap in investments and nearly four-fold jump in employee strength for its retail and corporate banking business in India.

The banking major, which is already present in investment banking business here, is planning to offer full service commercial banking operations in the country, Barclays Capital Asia Chairman and CEO Robert Morrice told PTI.

"Our coporate banking business would operate from the existing Barclays branch in Mumbai, and the plan is to open more branches at other locations in the country," Morrice said.

Barclays is awaiting regulatory approval for opening further coporate banking branches in the country, he added.

Ahmed Khizer Khan, CEO (New Markets) of Barclays Global Retail and Commercial Banking (GRCB) said that India has been identified as a "very attractive market."

The company is looking to significantly increase its investments for expanding its retail and commercial banking business in the country, Khan added.