anz-gets-approval-for-mumbai-branch

ANZ gets approval for Mumbai branch

A decade after ANZ sold the Grindlays franchise and exited its India business, it receives permission to set up its first branch in Mumbai.

ANZ has received permission from the Reserve Bank of India RBI to establish a foreign bank branch in India. It will be the Australian bank's first branch in India and will be located in Mumbai.

Our aspiration in the longer term in India is to build a full franchise across the retail, wealth, institutional and commercial segments to become a top four foreign bank, Alex Thursby, ANZ's chief executive officer, said in an internal memo. In the short-term, ANZ intends to use the licence to offer its institutional clients in India a full suite of products.

The branch will mark the return of the ANZ group to India after a decade's absence. ANZ...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222