ANZ receives approval to open Indian branches

Bank gets the green light to open two new branches in New Delhi and Bangalore.

Australia and New Zealand Banking Group (ANZ) has received in-principle regulatory approval to open two new branches in India.

The Reserve Bank of India has approved the branches, set to open in fast-growing commercial centres in New Delhi and outer Bangalore, to support growing trade and investment flows to and from India. 

ANZ chief executive of international and institutional banking Andrew Géczy said the approval will expand the bank's ability to support its clients and build on its position in Asia.

"Continuing to connect our customers between India and the other 32 countries in our network creates a further driver of growth for ANZ,” Mr Géczy said.