Barclays Global Retail Banking (GRB) is not averse to growing inorganically in India, which

RELATED ARTICLES Andhra Bank Q3 net down 8.5% at Rs 303 cr Govt approves Rs 7,900 crore capital infusion in SBI Allahabad Bank Q3 net up 35% at Rs 560 cr Indian Bank Q3 net up 7% at Rs 526 cr Savourites to take Bengali cuisine global

it considers to be a key geography. The bank is open to buyout opportunities in order to register faster growth in the domestic market.

“We are looking at mergers or acquisitions as a possible way to expand our footprint in India. We are open to dialogue on this front,” Ram Gopal, interim managing director – India, said. Gopal, however, ruled out targeting any specific banks for the purpose.

Barclays has launched its seventh branch in the country in Hyderabad. Its other branches are in Mumbai, New Delhi, Junagadh in Gujarat, Kanchipuram in Tamil Nadu, Nelamangala in Karnataka and Ahmednagar in Maharashtra.

On the issue of the bank having a majority of its branches in tier-III cities, Gopal said that it was in keeping with the Reserve Bank of India’s stipulation that recommends setting up more branches in smaller towns and villages.

“Having more branches in smaller towns is not a hindrance to growth because a lot of business is going to these places, with tier-I and tier-II cities getting saturated,” Suvrat Saigal, consumer banking director, said. “Moreover, today, with fewer and fewer people going to banks to conduct their business, location isn’t so big a factor.”

Barclays Bank is looking at the ‘mass affluent’ segment of the population for roping in retail clients. A person would belong to the section if the person’s monthly income exceeds Rs 30,000, Gopal added.

The bank claims to have secured more than 900,000 retail and 2,300 commercial customers in the past three years. The latter includes large multinationals, public sector companies and small and medium enterprises.