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JPMorgan Targets Doubling India Finance Hub Business
JPMorgan Chase & Co. plans to expand its operations in India's GIFT City financial hub, aiming to double its business over the next couple of years.
The bank currently serves a few hundred clients in the international financial hub and has operated there for four years.
According to Global Co-Head of Payments Max Neukirchen, JPMorgan's expansion will focus on trade finance and forex, as well as adding liquidity and payment solutions.
The bank's existing business in GIFT City currently has a book of close to $1 billion, said people familiar with the matter.