BNP Paribas to bring in Rs 290cr more to India

Global financial giant BNP Paribas Group will be infusing Rs 290 crore (euro 50 million) as new equity in its Indian operations. The fresh infusion of funds will increase its capital base in India to around Rs 1,000 crore.

This will be the third capital infusion in as many years by the French bank, which is emerging as a big player in the corporate, investment and private banking space.

"This new capital infusion demonstrates our deep commitment to expand the presence of BNP Paribas in India," Frederic Amoudru, chief executive and India head of BNP Paribas, said in a statement today.

"With our increased equity base, we will be better placed to support our corporate clients' fast expansion and scale up our fixed income and treasury operations where the bank is already a leader," he added.