Patno’s remarks came during his first in-camera meeting with the heads of nearly two dozen Indian medium-sized companies here more than a week ago. Many companies are tapping the bank for a range of products including credit, cash management, risk management and currency risk cover.
“The main topic of our conversation is to reset all operational assumptions,” Patano told ET. “Everything is off the table. It’s a completely different environment from the one I’ve worked in the last 10 years.”
More than three dozen medium-sized Indian companies have become clients of JP Morgan since announcing its decision to enter the commercial banking sector covering India-based clients three years ago. “It will be a very valuable business for us,” Petano said. “We know we’re doing something right because competition is either doubling or expanding efforts with mid-sized companies globally.”
India-based companies with annual revenues of $200 million to $2 billion are eligible to be JP Morgan’s commercial banking customers.
The Bank aims to tap these companies in areas such as IT, Healthcare, Auto Components and Chemicals at an early stage and partner with them through their growth journey, thereby meeting their traditional lending needs for capital needs at a large scale. be completed.
The Indian team at JP Morgan has compiled a list of hundreds of companies that have strong growth goals and are ranked among the top in their respective industries.
“They are going to grow, get bigger and bigger, and they will need to rely on partners to advise them on capital structure considerations, potential M&As, and cross-border payment needs,” Patano said. The Global CEO of Commercial Banking said, “India is well-positioned for capital formation, new business creation and of course, a growth theme to the world”.
In their catch-up with clients, interactions focused on cost of capital, economic outlook, financing strategies, managing currency risk, and how they are preparing to take advantage of supply chain disruptions. esg (environmental social governance) Transition.
Patano said he is betting on India’s long-term environment because of the country’s strong infrastructure, emphasis on infrastructure, a strong labor market and a stable political climate. “India is a powerful future economy,” he said, but cautioned companies on short-term volatility. “We are optimistic in the long term but cautious in the short term.”
JPMorgan is driving a dedicated effort to hire talent as it seeks to gain market share.