ABN Amro plans to grow its private banking business by at least 300 per cent in India during the next five years. The Dutch bank said it...

ABN Amro plans to grow its private banking business by at least 300 per cent in India during the next five years.

The Dutch bank said its private banking operations in India currently has around $750 million of assets under management, but has targeted growth of more than $2 billion over the next five years.

ABN said that it would look at growing its business outside of the major Indian cities and target growth in Hyderabad, Mysore, Pune and Baroda. The bank said it wants to be active in at least nine cities throughout the country.

The bank plans a major recruitment drive to correspond with its growth plans.