Barclays eyes double-digit retail market-share in India | business | Hindustan Times
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Barclays eyes double-digit retail market-share in India

business Updated: Dec 23, 2007 11:37 IST

Global banking-major, Barclays, which recently infused USD 70-million into its India retail operations, on Sunday said that it was targeting a double-digit market-share in the segment.

A late entrant into the retail-lending segment, Barclays has aggressive plans to strengthen its foot-print in the sub-continent, as a part of which it plans to open a new branch in Gujarat by the new-year, Barclays Bank's Managing Director-Indian Ocean, Samir Bhatia, told reporters in Mumbai.

"We know the customers well and about the kind of products demanded by this market. Since its launch in May this year, our retail portfolio has been growing very well," Bhatia said.

Presently, 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.