NEW DELHI: Malaysia’s largest banking group, Maybank has started initial discussion with the Indian authorities to open up its branch in the country.
Currently Maybank has opened up their branch in Mumbai through Bank Internasional Indonesia (BII), a subsidiary of Maybank in 2013.
Minister of International Trade and Industry, Datuk Seri Mustapha Mohamed said Maybank intends to enter India without BII.
BII opened its first branch in India in 1995, but has ceased operations in 2008 before making a comeback in 2013.
Besides Indonesia, Maybank also has branches in Singapore, Philipines, Thailand, China, Cambodia, Laos, Myanmar, Hong Kong and Brunei.