JPMorgan Chase to focus on startup banking: India CEO

The bank started its 'innovation economy' business in the US about five to six years ago

- Shayan Ghosh

JPMorgan Chase Bank India is looking to expand its startup banking segment to include over 100 companies in the coming years, a senior executive said, as it looks to deepen its presence in India's high-growth technology companies.

The bank started its "innovation economy" business in the US about five to six years ago and then expanded it to other geographies. In India, the business started 30 months ago and has approximately 50 companies, Pranav Chawda, chief executive officer (CEO) of JPMorgan Chase Bank India, said in an interview.

Globally, JP Morgan Chase saw a 30% growth in its innovation economy—the network of venture-backed companies, founders and investors—client base in 2024, as per its latest annual report.

"We generally focus on companies with a topline of $200 million and more. Most of our clients in this segment have yearly revenues of $200-900 million," said Chawda, who took over as the CEO in October following the Reserve Bank of India's (RBI) approval.

Before his elevation, Chawda headed the bank's commercial banking business, which he continues to lead. His new role also includes leading the corporate banking division.