Barclays Targets double-digit Share in Indian Retail Sector

December 23, 2007	(3 votes, average: 4.67 out of 5)  Loading ...
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World reckoned banking major, Barclays, have plans to get a double digit market share in the Indian Retail Sector. The banking major has recently invested USD 70-million into India’s retail operations.

Despite being a late entrant into the retail segment, Barclays target’s to make a strong mark in the sub-continent. Samir Bhatia, Managing Director-Indian Ocean told reporters that they are planning to open a new branch in Gujarat by the new-year.

He further added that Barclay’s understands the customers well and are aware of the kind of products demanded by this market. The company has bee growing well since its launch in the retail segment.

As of now, Barclays has four branches in the country in Delhi, Bangalore, Mumbai and Chennai. The fifth branch, expected to be opened by the New Year, will be in Junagarh, Bhatia said.

The bank is a strong player in the investment banking segment and has already infused USD 300-million to equip this division face competition from other players.

Asked whether Barclays would adopt the inorganic growth path in the country, Bhatia said that “it is too early to comment on the matter.”

Barclays, the first bank to introduce ATMs in 1967, is also the first credit card issuer in the UK. The bank has nearly 27-million customers worldwide and an employee strength of about 1, 27, 000.

News Published Under:   Retail Market in India |

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