ANZ plans to set up a fourth branch in India at Gift City

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₹19,421.3 crore as of 31 March 2023, according to regulatory disclosures. “We are focused on supporting our customers and where they want us to be, so we are looking into setting up a Gift City branch. Our customers are going to have operations in Gift City and that’s where we want to be to support them and their flows," Vasic said.

ANZ, which re-entered India in 2011 after exiting the market a decade earlier, has one branch each in Mumbai, Gurugram and Bengaluru. Its global capability centre in India is spread across two locations in Bengaluru. In Mumbai, the lender recently moved into a 11,000-sq-feet office at Worli, where British lender Barclays has been reported to have recently leased 64,000 sq ft of space.

“The economic situation in India is trending strong and this relocation underscores our growth ambitions in India, where we have operated our ANZ India branch for 13 years," said Vasic. Once the branch is operational, ANZ will join a growing number of foreign banks such as JP Morgan and Citibank that have opened branches at Gift City. “This India trip is about the growth story of India and how we can support our customers both here in India and across the region, specifically on the back of the free trade agreement that was signed in 2022 between Australia and India," said Vasic.

He was referring to the India-Australia Economic and Cooperation Trade Agreement which, according to a government statement in December 2022, provides an institutional mechanism to encourage and improve trade between the two countries. Vasic said another reason for her India trip was to meet some of the bank’s key customers and hear from them about the current opportunities and challenges in the world’s fifth-largest economy. “One of