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Dresdner Bank

opens branch

in India

BOMBAY: Germany's Dresdner Bank AG opened its first Indian branch here on Monday.

Dresdner Bank, the second largest bank after Deutsche Bank AG to set up shop in India, plans to offer commercial banking services to top Indian corporations and international clients.

It does not have immediate plans to get into retail banking, due to a paucity of branches, but may offer personalised service to select high net worth clients.

The accent will be on trade finance, foreign exchange business and project finance, particularly in the areas of power generation, pertrochemicals and telecommunications.

A major client segment will be German companies wanting to set up in India.

Dresdner Bank has had a representative office in India since 1989 and was allowed to upgrade its operations here sometime last year.-AFP