FirstRand: Finding its Path into the Indian Market: Abstract
FirstRand: Finding its Path into the Indian Market is a case study by Peta Krost Maunder and Peter Draper.
In February 2008, eight months after FirstRand Limited sent Stephan Claassen to India to gather insights for a market-entry strategy into that country – the initial preference being to set up as a retail bank – Claassen presented a strategy to the board that focused on setting up as a corporate investment bank in the Africa-India corridor. He knew he had done well in convincing FirstRand’s board of the strategy, but now wondered about other opportunities that would present themselves, and how the team in India would incorporate them into what would become FirstRand Bank India.
FirstRand Limited in South Africa gave its full support to Stephan Claassen, Dr Theunie Lategan, Rohit Wahi, Mahendran Moodley and the team in India to proceed with the Africa-India corridor corporate investment bank, with the understanding that they should do what they could to develop other markets at a later date. With the go-ahead, the team finalised and sent their banking licence application to the Reserve Bank of India (RBI). This epilogue accompanies the case with the same name, and should be used in conjunction with the case.
- Part A
- Part B: Epilogue (only available with a Teaching License purchase)
The overarching purpose of this case is to examine and understand what it takes for a company, particularly a bank, to expand into India, and to teach students the following:
- An understanding of the need to adapt international market expansion strategy to target institutional, political and regulatory contexts
- The BRICS phenomenon, with a particular focus on the extent to which India actually represents an attractive proposition