Mumbai- Head Quartered Darwin Platform Group of Companies today announced its foray into international financial sector with the best global practices. Initially, the Group would start its banking business in nine countries. The company plans to infuse Rs 14,000 crore for its international financial operations.
Announcing the entry into banking business, Ajay Harinath Singh, Chairman, Darwin Group of Companies said, “We would now be moving to next level in financial sector. From non-banking finance, the Company has now entered into banking business. Operations would soon begin in 9 countries.”
“We would be infusing a total of Rs 14, 000 crore. Our associate companies Russian Direct Investment Fund and Rothschild & Company will spearhead the banking services. For the first phase, the Group will start the banking services in the countries where it is already operating in other sectors,” he added.
The Group will start its banking business in Russia, Germany, UK, The Netherlands, Spain, China, India, UAE and USA. The licensing process and other legal formalities are being finalised and the banking operations would start soon.
Singh said, “Investment for the banking service and our global geographical spread is also strategically planned. It will help the group for further expansion in times to come. Since we are getting political, policy and financial support from UK, Germany and Russia, hence our focus would be on Europe and gradually we will further expand.”
Today Darwin Platform Group has entered into several sectors including Finance, Banking, Mining, Logistics , pharmaceuticals, Shipping, Realty, Infrastructure, Information Technology and Education.
Singh & Sons Holdings PLC is the flagship of the Darwin Platform Group of Companies and controls the Rothschild Group’s banking activities including N M Rothschild & Sons. It has over 1200 employees. Directors of the company include Eric de Rothschild, Robert de Rothschild, and Ajay Harinath Singh.