NBFCs: Barclays completes process of closing out, buyers welcome

Barclays apparently thought it a good idea to enter India as a NBFC less than 5 years ago as NBFCs can open branches at will. However, as much noted, the model did not quite work for Barclays with a lack of probity and inability to grow in Credit cards forced the bank to sell out and close its operations in India.

It’s credit cards portfolio without its 20% NPSs as sold to SCB and of the 30 odd branches for the bank, hat have all stopped lending further, at least 20 ar ebeing closed down across the country leaving it with branches in ‘ single digits’ to manage the existing unsecured loan book

The loan assets are worth another INR 30 bln or $500 mln on top of the sale of INR1.75 bln in Credit card assets ( from 160,000 cardholders )

Eiko and her credit card
Image by eikootje via Flickr

One thought on “NBFCs: Barclays completes process of closing out, buyers welcome

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