The banking group has expanded its presence in India.

Australia and New Zealand Banking Group, which provides services including private banking, has opened a new branch in the city of Gurgaon, in the northern region of India.

The opening of the branch is in addition to the bank’s presence in Mumbai and follows the opening earlier this week of "EcoWorld", an operations, technology and shared services hub in Bengaluru, the firm said in a statement yesterday.

“Our growing presence in India is an important part of our super regional strategy,” Mike Smith, ANZ chief executive, said.

“India’s annual trade with Asia-Pacific is worth around $250 billion and it is the fourth largest destination for Australian exports. Recent cutting of red tape has India on track to remain one of the world’s fastest growing economies, providing the momentum needed for further economic reform to increase growth and open up new markets,” Smith said.

ANZ's CEO in India, Sanjeev Bajaj, said: “Our branch in Gurgaon complements ANZ’s existing Mumbai operations and will help connect our North India clients to business and growth opportunities within both India and the region. We also have regulatory approval to expand our franchise with a new branch in outer Bengaluru, which will further improve our coverage in key business centres.”

The new EcoWorld campus provides an additional 2,275 seats complementing the bank’s existing “Eucalyptus” campus in Manyata. ANZ has 7,300 staff working in its two Bengaluru campuses.

ANZ India offers Indian rupee and foreign currency services, working capital and term financing, transaction banking, global markets, deposits and advisory services.