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5 March 2007
Westpac receives approval to open Mumbai representative office
Westpac today announced that the Reserve Bank of India (RBI) has approved Westpac's plans to open a representative office in Mumbai.
Westpac's General Manager, Asia, Yogan Rasanayakam said the new office will enable Westpac to service Australian clients with operations in the fast growing Indian market.
"There are a growing number of Australian and New Zealand corporate and business banking customers who have business interests in India and who need access to trade and commercial finance. Having an on the ground presence in the financial capital of India will make it easier for those customers to access their banking requirements.
"We will also look to support Indian corporates who are wanting to do business in either Australia or New Zealand," Mr Rasanayakam said.
Westpac has offices in Singapore, Beijing, Hong Kong and Jakarta. It is also seeking approval to open an office in Shanghai.
Westpac expects to open the Mumbai representative office in July this year.
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