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Mumbai, Feb. 1 Royal Bank of Canada (RBC) opened its first representative office in India, in Mumbai, today.

The bank, which is the largest bank in Canada, is planning to offer services such as capital market products including debt funding, wealth management services for high net worth individuals, correspondent banking and trade finance services to Indian financial institutions, said a press release.

Mr Gordon M. Nixon, RBC President and Chief Executive Officer, said: “The strong growth of the Indian economy presents huge opportunities. India is showing an increasing demand for areas in which RBC has competitive strengths — infrastructure and project finance, energy, metals and mining, structured products, currency and bond trading, and wealth management services.”

Mr Akhauri Sinha, Country Head, RBC India, will lead RBC’s overall operations in India. Mr Dipendarra J. Singh will lead RBC’s wealth management business and Mr Vikas Jambotkar will head the services to Indian financial institutions and capital markets services to corporations.

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