ANZ to deepen India footprint with 4th branch at GIFT City

Australia and New Zealand Banking Group (ANZ) is planning to open a fourth branch in India at Gujarat International Finance Tec-City (GIFT City) as customers are increasingly moving their operations to the international financial services centre, Lisa Vasic, managing director, transaction banking, ANZ, said in an interview.

- Shayan Ghosh

ANZ has identified ample opportunities in India to cater to some large institutional clients. Vasic leads its trade and supply chains; payments and cash management, as well as cross-border correspondent banking business. According to regulatory disclosures, ANZ's aggregate exposure in India stood at 19,421 crore as of 31 March 2023. "We are focused on supporting customers and where they want us to be, so we are looking at setting up a Gift City branch. Our customers have operations in Gift City and that is where we want to be to support them and their flows." In 2011, ANZ returned to India after exiting the market a decade earlier. It has branches in Gurugram, Bengaluru and Mumbai. Its global capability centre in India is