Dresdner Bank, a subsidiary of Allianz Group, has announced that it will open its first branch in the major Indian city of Mumbai in 2009, after being granted a corresponding license by the Indian Central Bank.
In the coming years, the bank is planning to expand its private client business in India. The planned branch will offer customers a range of financial services – from bank accounts to mortgages, and from deposits to consumer loans.
Herbert Walter, chairman of the board of managing directors of Dresdner Bank, said: India is a booming market with enormous customer potential. That’s why it is essential for us to expand our presence in this region.