JPMorgan set to open first new India branch in nearly a decade

JPMorgan Chase & Co. will launch its first new India branch in nearly ten years, sources indicate, highlighting the Wall Street bank’s expanding focus on one of the world’s fastest-growing major economies.

The banking giant has secured preliminary approval from India’s central bank to open its fourth location in Pune, near Mumbai, according to knowledgeable sources who requested anonymity as the announcement remains unofficial. The new branch will serve corporate customers with comprehensive services ranging from transaction processing to long-term financing solutions.

A JPMorgan representative confirmed receiving preliminary regulatory approval. The Reserve Bank of India did not immediately respond to requests for comment.

Global banks are increasingly targeting India for expansion, attracted by robust economic growth, rising demand for credit, and expanding corporate sector activity. The country’s stable economic fundamentals have further increased its attractiveness to international financial institutions.

JPMorgan’s previous branch approvals in India came in 2016 when it received authorization for three locations.

Since then, the bank has broadened its commercial banking operations to serve domestic mid-sized companies and inaugurated a new campus facility. The New York-based institution maintains diverse operations across India including investment banking and asset management services.

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Published on December 11, 2025