Barclays Expands Private Banking to Target India's Billionaires

Barclays Plc is expanding its private banking operations in India to target the country's wealthiest 1% and billionaire founders. The lender aims for double-digit business growth over the next few years by leveraging its international network and capital-markets capabilities to serve ultra-high-net-worth individuals with assets across multiple jurisdictions.

As of the end of 2025, the firm's wealth business in India ranked 10th by size with $23.8 billion in assets under management, reflecting a 7.3% annual increase. This strategic push places the bank in direct competition with established international rivals including Standard Chartered Plc and HSBC Holdings Plc.

The expansion aligns with a projected rise in India's billionaire population, which is expected to grow from 207 in 2025 to 313 by 2031. This growth is driven by liquidity events such as initial public offerings and merger and acquisition activity.