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Banque Indosuez planning syndicated lending

By Staff Correspondent
Banque Indosuez. a leading French bank, is planning to go ‘into syndicated loan pro-E;ramme in Bangladesh in colaboration with local banks.
This was disclosed by Jean-Claude Gruffat, Chairman for Asia-Pacific of Banque Indosuez yesterday at a press breif-ing at its local headoffice in Dhaka.
"I had talks with the government regarding this new project.! said Gruffat . ithe Ministry of Finance expects us to play a major role in syndicated medium term financing for the local marekt."
Indosuez is also planning automated banking system providing clients with facilities like easy and quick fund transfer, and automatic processing of letters of credit.
The bank will also- focus on securities business in Bangladesh, specially of quality issues.
"These new programmes will help us maintain our profitability against the stiff competition from new banks coming into the market." he said.
Gruffat was in Dhaka on a
short visit to meet clients and authorities as well as to introduce a new country manager for the bank.
During his briefing to the
idqrnalists. he was highly hopeful of increasing businesses in Bangladesh^
’ Last year we doubled our capital to Tk 400 million here which reconfirms our commitment to this market. If business grows further, we will give more resources here. There is a very strong will to continue to be active." said Gruffat.
Indisuez has diversified its portfolio over 131 corporate clients consisting of both local and multinational companies.
We have a lot of confidence in the growth of South Asian economies where we will make further investment.! said Gruffat adding that the policies and environment here are favourable for foreign investment and there is a hope for faster growth of the economies.
"But you have to maintain political stability." he pointed out. "Foreign investors stress political stability as the prerequisite to investment."
. About the fast entry of foreign banks into the country, he said this is a welcoming sign for the economy.