Westpac expands its horizons

Westpac continues to expand beyond Australia and has now opened its first branch in India.

The company said it will support Australian customers who have relocated to the Asian country and will also provide services to the growing number of Indians who have investment interests down under.

Westpac – which recently reported a five per cent year-on-year increase in its cash earnings for the 12 months to September 2012 – already has outlets in Shanghai, Beijing, Singapore, Hong Kong and a representative office in Jakarta.

It was the first Australian bank to open in China back in 1986 and chief executive of the company Rob Whitfield is happy the lender is establishing itself in India.

"We have made very strong progress in executing our strategy in Asia and the opening of our Mumbai branch represents the next key step in that strategy," he remarked.

The firm will offer a wide range of retail and wholesale banking services, including savings accounts, current accounts and deposits.

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