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MUMBAI, March 22

THE French bank, BNP Paribas, which had recently cut-back its retail banking in India, said that it has brought in Rs 80 crore as additional capital for Indian operations.

Of this around 75 per cent would constitute Tier-I, while the balance will be Tier-II capital, resulting in an increase of 43 per cent in its capital base.

In February 28, the bank had said that "it was in the process of re-evaluating its project of retail banking activity with the objective of repositioning its offer.'' Last year, the bank had also shut down its securities brokerage arm.

The additional capital infusion would cover the statutory capital requirements stipulated by the Reserve Bank of India for foreign banks operating in the country, a bank press release said.

The additional capital would further augment the bank's thrust in developing its corporate banking, fixed income and private banking activities, the release added.

The focus of the bank would continue to be on liabilities and capital market programmes and also "pursue the objective of becoming a substantial player in the asset management business.''

BNP Paribas has around 500 domestic and multi-national corporates as its clients in India.

Currently, it provides working capital loans, trade finance, cash management, foreign exchange and specialised finance for its customers.

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