India one of 6 key markets: ABN Amro

The Netherlands-based ABN Amro Bank NV has identified India as one of the six key markets for its working capital services.

"We have identified India, China and Taiwan in Asia and Brazil, Turkey and Russia as other three markets for our working capital services," ABN Amro Bank country head working capital Rohit Karan Sawhney told newspersons.

The bank has also doubled its sales, business and product management team to 30 last year, while the strength of back-end workforce stood at 400, he added.

ABN Amro brought together the full range of foreign exchange, cash flow, trade and liquidity advisory capability to create the working capital services.

Sawhney said this service has received an encouraging response post its relaunch six months ago.

The bank was also planning to introduce vendor financing in 2004 and the interest rates would be linked to various aspects like the amount and tenor, he said.