Export-Import Bank of India

Indian financial institution Export-Import Bank of India sought to tap into global capital markets and exploit a UK customer base. Think London helped re-locate its European HQ from Milan to London — Europe’s most advanced financial services market.

The company

Indian financial institution Export-Import Bank of India (EXIM Bank) sought to tap into global capital markets and exploit a key UK customer base. Think London helped re-locate its European HQ from Milan to London — placing it at the heart of Europe’s largest and most advanced financial services market.   Bank of India, EXIM Bank for short, is responsible for financing, facilitating and promoting foreign trade in India. It is wholly owned by the Indian Government.

Aim

EXIM Bank established its first European office in Milan in 1991. But London’s sophisticated financial service industry and access to global capital markets made the company decide to re-locate.

Think London helped with:

• arranging London property tours
• connecting EXIM Bank with accountants, bankers and law firms
• staff location advice eg. providing school league tables for employees with children

Market factors

• London is the world’s largest international banking centre, with a 50% share of all European activity
• London boasts more branches and subsidiaries of international banks than any other city in the world
• The London foreign exchange market is the world’s largest, with a daily turnover of 31% of the global market

In their own words

“We were looking for a more attractive location for our European HQ than Milan. The Milan office was looking after our northern Africa and Western Europe but in terms of market attractiveness we were not sure Milan was the most suitable location.

We chose to relocate our European office to London because it is a more attractive place for Indian businesses; a lot of Indian companies are already present in the UK, specifically London. We felt we needed to follow our customers and base ourselves in London. We also chose London because it really is the most important business centre in Europe and the financial services industry is very advanced here. We also wanted to take advantage of the excellent access to global capital markets.

Think London did the groundwork for us in London. They helped us find our premises and in put us in contact with professional service providers like solicitors and other regulatory authorities in London. Think London made the process really comfortable for us. They were very helpful and without them the meetings and discussions would have taken a lot longer. Their guidance was extremely valuable because we were new to the to this country and had no contacts of our own. Think London established key business relationships for us.

Both from a business and personal point of view, it has been a good move for me and a good experience. My family is enjoying being in London and the business is succeeding too.

Even now, when I need somebody — either an auditor or a tax consultant or something — I always ring up Think London and get two or three useful names from them. I know that there is a credibility there.”

Samuel Joseph
Spokesman for Export-Import Bank of India

For more information about Export-Import Bank of India, please visit www.eximbankindia.com