NEW DELHI: Malaysia's largest banking group, Malayan Banking Bhd (Maybank), has started negotiations with regulators in India to open its own branch in the country.
Currently, Maybank subsidiary Bank Internasional Indonesia (BII) has a branch in Mumbai since 2013.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said Maybank intends to enter India directly without going through BII.
BII opened its first branch in India in 1995, but stopped operating in 2008, before resuming operations in 2013.
Besides Indonesia, Maybank also has overseas branches in Singapore, Philippines, Thailand, China, Cambodia, Laos, Myanmar, Hong Kong and Brunei.