Connect with us

Hi, what are you looking for?


Japanese banks attracted to India

Some of the largest banks in Japan are exploring to expand their operations in India as they are encouraged by the reform measures being initiated by the new government. These banks are betting aggressively on the government’s pledge to restart growth and attract foreign investment. Japanese lenders including Mitsubishi UFJ Financial Group and Mizuho Financial Group plan to grow their loan books through branch openings and offerings of new services such as corporate deposits, M&A financing and debt capital market advisory, according to sources. These banks see an opportunity to expand in a sector dominated by inefficient state-owned banks and where foreign lenders control only 6% of total banking assets. By contrast, foreign banks control nearly a third of banking assets in Indonesia and more than a fifth in Brazil. With Japan setting a target of doubling investments in India within five years and government intending to attract long-term investment to shore up its infrastructure, Japanese banks are trying to move quickly. Shinichiro Kashiwagi, CEO, Mizuho Bank India, said the bank’s balance sheet is strong and the bank can absorb its lending exposure to the Indian clients… better than European, American banks.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.