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Dresdner bank to open Indian office in 2009

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13:11 CEST+02:00
Dresdner Bank, a subsidiary of the German insurance group Allianz, will open its first Indian office next year, offering services from accounts to mortgages and consumer loans, the bank said Thursday.

The branch in Mumbai got the go-ahead after Dresdner received an operating licence from the Indian Central Bank, a statement said.

"India is a booming market with enormous customer potential," it quoted Dresdner chairman Herbert Walter as saying.

"That's why it is essential for us to expand our presence in this region."

The bank plans to expand further in India, adding to operations by Allianz itself, which is already present in the strong emerging market via two insurance companies.

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