JP Morgan’s India branch is increasingly targeting intra-Asia regional business, particularly between India and China, in a reflection of the rapid growth of trade between the two rapidly growing economies, the Financial Times said.

“Now, with the very significant presence that we have in Asia, we are trying to see how we can leverage our presence in key countries in Asia across business lines,” Kalpana Morparia, chief executive of JPMorgan India, was quoted by the newspaper as saying at the World Economic Forum in India.

Ms Morparia said JP Morgan is expanding the traditional approach of the US-based bank operating in India. This used to be to help Indian companies go abroad and US businesses to come to India.

Now it was trying to tap into business between Indian clients and their counterparts in China and other Asian markets, such as Japan and South Korea.

In India, JP Morgan also plans to launch an onshore wealth management service targeting those with financial assets of more than $5 million.