With concerns mounting of a sharp downturn in the Chinese economy, one of the big four banks is turning its attention to India.
ANZ has announced the opening of a new branch in Gurgaon, one of the fastest-growing financial and industrial hubs in India, to better service its business customers in the country’s north.
The opening of the new branch adds to ANZ’s existing presence in Mumbai and comes after the launch of EcoWorld, a state-of-the-art operations, technology and shared services hub in Bengaluru servicing the Australian, New Zealand and Asian markets.
“Our growing presence in India is an important part of our super-regional strategy. As one of Australia’s largest investors in India, we are well placed to support trade, investment and wealth flows with the Asia-Pacific region,” said ANZ chief executive officer Mike Smith.
The Gurgaon branch complements ANZ’s existing Mumbai operations and will connect its North India clients to business and growth opportunities, both domestically within India and more broadly across the region.
The Reserve Bank of India has given regulatory approval for ANZ to expand its franchise network with a new branch in Bengaluru, which will improve the bank’s coverage in key business areas.
Commenting on the expansion of services in the region, ANZ Bengaluru managing director Pankajam Sridevi said: “The opening of EcoWorld will help us better service and support ANZ’s businesses across our 34 markets, and ensure we’re able to continue to provide a world-class service for our customers 24 hours a day, seven days a week.”
The new campus will see the addition of 2,275 seats, which complements ANZ’s existing ‘Eucalyptus’ campus in Manyata, and includes the latest digital and video-conferencing technology plus adjustable workstations to cater for people with disabilities. In total, there are 7,300 staff members across the two campuses.
Australia’s Department of Foreign Affairs and Trade reports that India-Australia trade was worth $15.9 billion in 2014, making it Australia’s fourth largest trading partner.