JAMIE DIMON, Chairman and CEO of JPMorgan Chase, has always been bullish on India. During the JP Morgan India Investor Summit in late 2023, he highlighted the significant growth of JP Morgan, the Indian subsidiary of the world’s largest bank by market cap ($538 billion as of March 4, 2024), over the past few years.
Although JP Morgan primarily focusses on wholesale banking in the country, its target areas extend beyond just large Indian corporates or multinational companies. New-age companies and even other players in the banking industry who could be competitors in some segments are huge business opportunities for the bank that has emerged as the winner in the Best Foreign Bank category in the BT-KPMG Best Banks and NBFCs Survey 2022-23 for the third year in a row.
“Our [primary] business in India is wholesale, and we will continue to pursue value-added solutions and innovations on the wholesale side of the business... but, some of the solutions that we are developing on the wholesale side of the business are relevant for [other] banks as well,” says Kaustubh Kulkarni, Senior Country Officer-India and Vice Chairman Asia Pacific, JP Morgan.
JP Morgan is also innovating a lot on the blockchain, and according to Kulkarni, some Indian banks are currently “evaluating” potential partnerships with the foreign bank to leverage solutions developed by it. “We can be a technology partner for an Indian bank where they will use solutions that we create for them but for their customers and clients,” he says.
Esta historia es de la edición March 31, 2024 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March 31, 2024 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky