Why JPMorgan Chase's Chawda wants to ride with the start of the bank wolf

Copyright © HT Digital Streams Limit all rights reserved. Companies JPMorgan Chase Bank India to expand the presence in the starting bench, says CEO Chawda Shayan Ghosh 3 min, read 17 Apr 2025, 05:30 AM IST Pranav Chawda, CEO, JPMorgan Chase Bank India Summary The bank started its ‘innovation economy’ in the US. In India, the company started 30 months ago and has about 50 businesses. Mumbai: JPMorgan Chase Bank India wants to expand its starting banking segment to include more than 100 businesses in the coming years, a senior executive said because it was deepening its presence in India’s high-growth technology companies. About five to six years ago, the bank started its ‘Innovation Economy’ business in the US and then expanded it to other geographical areas. In India, the company started 30 months ago and about 50 companies, Pranav Chawda, CEO (CEO) of JPMorgan Chase Bank India, said in an interview. Read also | JP Morgan, CEO of return to office: work from home does not always work worldwide, JP Morgan Chase has had a 30% growth in its innovation economy-the network of businesses supported by businesses, founders and investors in 2024, according to the latest annual report. “We generally focus on companies with a $ 200 million and more to the top line. Most of our customers in this segment have an annual revenue of $ 200-900 million,” said Chawda, who took over as CEO in October following the approval of the Reserve Bank of India (RBI). Read also | JP Morgan sees small profits for EMS in 2025; OW on India, carefully on China before its height, Chawda was the head of the bank’s commercial banking industry, which it continues to lead. His new role also includes the guidance of the corporate banking division. According to him, the bank focuses on high-growth businesses in technology, fintech, e-commerce, software as a service (Saas) and health technology aimed at becoming global businesses. “We want to cover customers earlier in their life cycle, as early as series A and their banking partner because they want to scale and grow the company,” Chawda said. Investment opportunities India’s startup ecosystem was one of its success stories. There are on December 31, 157,706 startups registered with the department for the promotion of industrial and internal trade (DPIIT). As per consultant firm KPMG, India’s ecosystem, which is worldwide with more than 100 unicorns, offers rich investment opportunities for foreign investors. The country’s major consumer base and growing digital adoption create a significant market potential, it rang in a December report. Read also | India’s GDP dynamics for Jan-March Quarter were 7.8%: JP Morgan Chawda said these businesses are experiencing rapid growth, leading to constant evolution in their business models, and that many are now expanding their product or service offerings to the world markets. They believe that a bank with a global presence is better equipped to help them establish operations abroad, he said. “It can be as simple as opening a bank account in a new country, and as their business grows, they will need more capital,” Chawda said. “They intend to raise significant funds, either through debt or share capital and not by traditional bank channels.” He added that because some of these businesses are such a new age, the investors who would understand this segment are likely to be located in overseas markets. As part of his attempt to expand the business, some of the top leaders of the bank from India and overseas met the managers from the industry. The bank recently arranged two opportunities where its senior management meters of venture capital and founders met. Doug Petno, co-executive, commercial and investment banking, JP Morgan Chase and senior global and regional leaders were also present. According to Chawda, the first event in Bengaluru brought together representatives of ten leading venture capital companies working with JP Morgan in India and abroad. Thereafter, it also offered its corporate leadership resort in Jaipur, which attracted founders and general managers of 16 companies with a combined revenue of more than $ 7.2 billion. He said that many businesses are at a stage where traditional lending is not suitable. They may need daring debt, a structured debt solution or foreign financing, as the company may work locally, but the headquarters or the control company can be recorded overseas, such as in Singapore or the US, he said. Catch all the corporate news and updates on live currency. Download the Mint News app to get daily market updates and live business news. More topics #jpmorgan #banking #banking sector #interview #interviews #startup #startups coin specials