Indian lender opens in City

Tim Wallace
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INDIA’S third-largest lender Axis Bank yesterday unveiled its first British branch on King Street in the City.

The latest challenger in the UK’s highly concentrated banking market received permission to set up from the authorities in April.

It will begin by offering deposit accounts as well as loans, advances and investment products.

The group also announced plans to expand into other areas of the banking sector and use the branch as a base for European operations.