Indian banks eye assets of European counterparts

As European lenders seek to deleverage their books to meet new capital adequacy norms amid the euro zone sovereign debt crisis, Indian banks are eyeing a business opportunity — acquiring quality assets at attractive prices. Chanda Kochhar, managing director and chief executive officer, ICICI Bank, said, “For the Indian banking sector, it is a business opportunity. Some European banks are actually shedding great quality Indian assets at very attractive prices. We will see many Indian banks coming forward to pick up these loans.” She was speaking at the India Leadership Forum organised by the National Association of Software and Services Companies.

Source: Business Standard