Sumitomo Mitsui, BNP Paribas Open Branches in GIFT-IFSC
Jul 08, 2024 20:32
Sumitomo Mitsui Banking Corporation and BNP Paribas have opened branches in the GIFT-IFSC, expanding their operations in India. The branches will focus on foreign currency lending and attracting new business opportunities.
Photograph: Charles Platiau/Reuters
Mumbai, Jul 8 (PTI) Japan's Sumitomo Mitsui Banking Corporation and French lender BNP Paribas on Monday announced the commencement of branch operations from the Gujarat International Finance Tec-City - International Financial Services Centre (GIFT-IFSC).
The Japanese lender said the branch will focus on the foreign currency-denominated lending business while the French lender said that its presence is a bid to attract new business opportunities with its onshore and offshore clients, a statement said.
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