BNP Paribas group, the French financial services entity, has infused Rs 335 crore (¤50 million) in its Indian operations to support growth opportunities and strengthen activities in the country. The capital base of the bank now stands at over Rs 2,000 crore.
“Despite a globally challenging environment, BNP Paribas pursues its steady and disciplined growth strategy in India, with both organic and inorganic investments. We are deploying the whole range of our capabilities to service our clients in India step-by-step,” said Frederic Amoundru, chief executive and country head, BNP Paibas India.
At present, the group is active in corporate and investment banking and the private banking arena. It has formed several joint ventures in the Indian financial sector such as housing finance with Sundaram group, life insurance with SBI and personal investment with Geojit Financial Services.
| FINANCIAL PARAMERERS AT A GLANC | |||
| Rs crore | 2007-08 | ||
2008-09
% growth
BNP Paribas has recorded a net profit of more than 100 per cent to Rs 130.71 crore in 2007-08 from its Indian operations as against Rs 63.60 crore last year. Its capital adequacy ratio stood at 12.66 per cent at the end of March 2008.