Dresdner to open Mumbai branch

The bank receives its first branch license in India while a number of other foreign banks await permission to expand in the country.

GermanyÆs Dresdner Bank has received a license to open its first branch office in India.

Dresdner was operating only a representative office in India. IndiaÆs central bank, the Reserve Bank of India, has now given it permission to open a fully fledged branch in Mumbai.

India is a booming market with enormous customer potential,ö says Herbert Walter, chairman of the board of managing directors of Dresdner Bank in a written statement. ôThat's why it is essential for us to expand...

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