Westpac launches wholesale, retail banking ops in India

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SummaryWestpac has operated in India through its representative office since 2007, and was awarded a banking licence by the Reserve Bank of India in April.

Westpac Banking Corp, Australia's third-largest lender by assets, said on Thursday it has opened its first branch in India that will offer wholesale and retail banking services including trade finance, deposits and remittances.

The bank, through its branch in the country's financial capital of Mumbai, will also offer savings and current account, foreign exchange and treasury services, it said in a statement.

Westpac has operated in India through its representative office since 2007, and was awarded a banking licence by the Reserve Bank of India in April.

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