The giant banking group in Europe named BNP Paribas has recently made a huge investment of around Rs. 570 crore in India through a number of fresh equity in its Indian operations. The bank has recently released an official statement regarding the issue and said that the company has made this fresh equity infusion in the last quarter of the year of 2007 and with this infusion, the total capital base of BNP Paribas in India has gone up to Rs 1,600 crore.
While commenting on the issue, the Chief Executive and also the Country Head of BNP Paribas, Mr. Frederic Amoudru said, "With this enhanced capital base, we will be able to offer enhanced credit limits to our clients for borrowing in local currency, which is critical in view of the curbs RBI has imposed on ECBs". He was also talking about the other benefits that the bank would be getting from the investment and said, "It will also enable us to become more active in local currency project financing - an area we had avoided so far on lack of sufficient local capital base".
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| Posted : 1/30/2008 |
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