dkishore
04-12-2007, 07:31 AM
Standard Chartered Bank could be the first foreign bank thinking of hitting the street to get listed once the Reserve Bank of India (RBI) eases the rules for foreign banks to set up its own subsidiary.
Jaspal Bindra, Regional Chief Executive Officer for South and South East Asia, Standard Chartered Bank, is now changing the way foreign banks are viewed in India.
The top management on Monday told NDTV that it is looking at unlocking value and that it will list if policy incentives allow them to do it.
StanChart says looking at how banks are trading in India, it is worth trading the India valuations at some point.
Standard Chartered is listed only in Hong Kong and now having formed a China subsidiary it is looking at listing in China as well.
One reason why Stanchart wants to list in India is clearly to exploit the kind of valuations the banks are getting in the Indian stock market and all this will mean the Indian subsidiary will expand aggressively.
But the route to Dalal Street may not be easy since the RBI Governor holds the key to open up the sector. So the question will be with only a year to 2009, and practically no consolidation in the PSU banks, will India at all be ready to open up the space for foreign competition
Jaspal Bindra, Regional Chief Executive Officer for South and South East Asia, Standard Chartered Bank, is now changing the way foreign banks are viewed in India.
The top management on Monday told NDTV that it is looking at unlocking value and that it will list if policy incentives allow them to do it.
StanChart says looking at how banks are trading in India, it is worth trading the India valuations at some point.
Standard Chartered is listed only in Hong Kong and now having formed a China subsidiary it is looking at listing in China as well.
One reason why Stanchart wants to list in India is clearly to exploit the kind of valuations the banks are getting in the Indian stock market and all this will mean the Indian subsidiary will expand aggressively.
But the route to Dalal Street may not be easy since the RBI Governor holds the key to open up the sector. So the question will be with only a year to 2009, and practically no consolidation in the PSU banks, will India at all be ready to open up the space for foreign competition