Product details

Barclays Bank PLC had been providing financial services to the global community for 300 years. It was operating in India from the late 1970s as an investment banker. In 2006-2007, Barclays chose to enter the retail banking sector in India.The Indian banking sector was on a high due to the increased purchasing power of Indians coupled with higher interest rates. Many foreign bankers were willing to expand in India as the economy was growing at a rate of over 8% per annum. India offered ample opportunities in corporate banking, small-and-medium size enterprises, retail banking, consumer finance and micro finance. A large number of foreign banks focused only on corporate banking whereas analysts opined that the real opportunity lay in retail banking and consumer finance. In this context it would be relevant to analyse Barclays' entry strategies into India as well as the growth prospects of foreign banks in developing countries.