Australia & New Zealand Banking Group Ltd. (ANZ), the country’s most Asia-focused lender, plans to boost its capital-markets business in India and will hire bankers to increase syndicated lending and bond origination.
The new hires will be in addition to employees in Hong Kong and Singapore who currently serve Indian capital-markets customers, Andrew Geczy, the head of ANZ’s international and institutional banking division, said in a telephone interview yesterday. The Melbourne-based lender has in-principle approval from India’s central bank to add two more branches to support trade and investment flows, it said by e-mail yesterday.
“If you look at my syndications team, it’s mostly supported through my Hong Kong team members who fly in and provide the services,” Geczy said, declining to elaborate on how many people he planned to hire in India. “It is about expanding the product capability with enhanced on-the-ground capability.”
ANZ is the ninth-largest arranger of syndicated loans in India this year, helping on $425 million of deals, after ending last year at No. 11, according to data compiled by Bloomberg. The bank is the 11th-largest underwriter of overseas bonds for Indian companies this year, arranging the equivalent of $269 million, the data show.
The lender is seeking to double the percentage of profit it generates from businesses outside Australia and New Zealand to as much as 30 percent by 2017, according to a strategy briefing held in March 2011. Expanding in India and targeting full bank licenses in Thailand and Myanmar will complete ANZ’s Asia-Pacific footprint, Geczy said.
ANZ, which has a branch in Mumbai and employs more than 6,000 back office and technology staff members in Bangalore, has approval to open branches in Gurgaon, near the Indian capital of New Delhi and in outer Bangalore.
Until 2000, it ran one of the three biggest foreign banks in India with 40 branches in 15 cities. The lender sold ANZ Grindlays Bank Ltd. that year to Standard Chartered Plc for an amount equivalent to $1.3 billion at the time.
ANZ shares climbed 0.9 percent to A$33.53 at 11:19 a.m. in Sydney, extending their gains for the year to 4 percent. The benchmark S&P/ASX 200 Index rose 2 percent in 2014.
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