The Australia and New Zealand Banking Group (ANZ) is planning to expand its branch network in India by opening two more branches by early 2016.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The two of the branches will be located in the cities of Gurgaon and Bangalore and the branch in Bangalore will have a rural focus.

ANZ Bank executive director of international and institutional banking Subhas DeGamia said: "We will start our second branch in Gurgaon in the next few months and by early 2016 we will have the third branch near Bangalore."

ANZ has received in-principle approval from the Reserve Bank of India to open new branches in Gurgaon and in outer Bangalore in June 2014.

The bank started its operation in India with its first branch in Mumbai, opened four years ago.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

DeGamia said: "For us India is an important market. In ANZ we are growing across Asia.

"Indian companies who are wanting to open up not only in Australia but also in countries like Vietnam or Indonesia, ANZ which is growing in those countries can help."