The Bangalore office will be used to assess business "opportunities" in India, the Sydney-based lender said in a statement on Monday. Ravi Kushan, a former AT Kearney consultant, will run the office.
Bank loans in India rose 31 per cent in the year ended March 31, according to central bank data, the biggest rise since 1971 when figures were first recorded. Banks are benefiting from increased demand for credit as consumers spend more on durables and companies expand.
Last month a senior CBA executive said the bank was keen to find new partners in India, China and Indonesia who could benefit from its expertise in global banking and the management of credit risk.
CBA, which has a market capitalisation of $ 48.4 billion, has already entered the Chinese banking industry, last year acquiring 11 per cent of China's Jinan City Commercial Bank, with an option to increase that holding to 20 per cent.
In April this year, it also took a 19.9 per cent stake in Hangzhou City Commercial Bank in China's Zhejiang province for around 100 million Australian dollars as part of a strategic cooperation agreement.
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