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Dresdner Bank to open first branch in India

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.