The lender’s focus is on the richest Indian entrepreneurs, particularly those whose assets extend beyond India. Barclays wants to use its international reach to serve this group, putting customers’ global financial needs at the centre of its expansion effort.

Alongside that network, the bank is drawing on its expertise in capital markets. These are the two strengths identified in its approach to winning more business from ultra-wealthy Indians. The emphasis is on private banking for this customer segment, rather than a stated expansion of everyday retail banking.

Barclays is seeking double-digit growth, but the available information does not specify the measure behind that ambition or a deadline for achieving it. It also gives no details of hiring plans, new locations or particular products. With competition intensifying, the bank’s stated approach is to build on its international capabilities to attract wealthy founders and owners.