OREANDA-NEWS  On 04 December was announced, that Gazprombank (GPB) plans to extend its presence in India by setting up a Representative Office in this country within the first half of 2009.

The bank has already implemented several business projects in the interest of Russian companies working in the Indian market in the sphere of gas, oil, defence industry, metallurgy, telecom and others. However, the main goal is to establish effective and stable cooperation with both Russian and Indian business for mutual benefit.

Main tasks of the Representative Office will be to develop ties with Indian state, financial and banking bodies. RO will also promote GPB products in India, support current projects and perform marketing research to extend cooperation with Gazprombank clients and partners in this country.

Currently, Gazprombank is the 3rd largest bank in Russia as well as in Central and Eastern Europe. As a result of 18 years of focused development, it has gained a unique combination of experience, financial resources and infrastructure needed to provide a full range of banking services.

Gazprombank currently serves 43,000 corporate and over 2 million retail clients. It has 7 affiliated banks, including one in Belarus and one in Armenia. GPB regional network comprises 38 branches.