Mumbai: FirstRand Bank India, the domestic franchise of South Africa's second largest financial servicesgroup, is hopeful of reaching the break-even point in its commercial banking services in India by next fiscal.
"We are hopeful that our commercial (corporate) banking arm will break even by the end of the next fiscal. The balance sheet of our India franchise stood at USD 200 million as of 2012 with an asset base of USD 52 million," FirstRand Bank India chief executive for retail & commercial banking Bouphendra Madhav told PTI. The bank hopes to close the balance sheet next fiscal at USD 270 million, he added.
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