It sounds like ANZ is on the brink of expanding its Asian network even further, with signs that it will soon get approval for an Indian banking licence.
The reserve bank in India has recommended to the government that ANZ be allowed to open a branch in Mumbai. This will allow ANZ to sell its retail banking services to the fast growing Indian middle class.
The ANZ share price has jumped up on early trading this morning.
ANZ Banking Group
ASX Code: ANZ
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For more on this story:
Sydney Morning Herald: ANZ closer in India
