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...
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