There is noticeable resurgence of dealmaking in 2024: Sanjay Singh
Sanjay Singh, CEO and head of territory, BNP Paribas India, also confirmed the bank has recently received a ₹300-million capital infusion from its Paris-based parent group. The lender has carried out equity capital market deals worth $4.2 billion over the past year, and is noticing optimism among clients for the future pipeline. Edited excerpts from an interview with Bhaskar Dutta.
ET has learnt that BNP Paribas India has received ₹300 million worth of additional capital over the past couple of months. What triggered the decision and what are the India plans for the bank?
As a leading global bank, BNP Paribas sees India as a strategic market and this capital infusion is a testament to our ambitions for India. India is a focus market for BNP Paribas, and we have been deeply embedded here for over 160 years. The market itself is rapidly evolving on the back of strong macro tailwinds, solid fundamentals, positive demographics and progressive policy support. It (the capital infusion) shall empower us to further expand our client base, increase our ticket sizes and better leverage our local product capabilities. Further, the recent reduction in corporate income tax on foreign companies is a welcome gesture and it is expected to catalyse foreign investments here.
How is the landscape for dealmaking and investment banking looking in 2024?
There is a noticeable resurgence of momentum in 2024 driven by themes like domestic consolidation and PE exits. In sectors like healthcare specifically, owing to the strong balance
