Commonwealth Bank Australia has announced its plans to exit India. This follows weak results for the bank in the country. In Asia, the bank is mostly focused on Indonesia and China and has just one branch in Mumbai. The bank said it may close down this branch after careful evaluation of the India business alongside its refocused strategy. The bank opened the branch in 2010, focusing on commercial customers and small businesses with a smaller presence in basic retail banking products like deposits, plus servicing Indians living in Australia. Most of the Australian banks are reducing their presence in Asia. For example, ANZ, the biggest of the major banks in the region, has announced it may withdraw from the region. So is the case with Westpac, which last year also sold its operations in Samoa, Cook Islands, Solomon Islands, Vanuatu and Tonga.
