It's been almost 10 years that ANZ sold all of its assets to Standard Chartered and decided to move out of Indian but the fourth largest Australian lender is all set to re-enter the Indian geographies.

ANZ is now focusing on the emerging markets as its next path for growth and the Australia and New Zealand-based Banking Group is planning to set up a branch in Mumbai in a time frame of 12 months.

In fact, the banking major has already received RBI approval and is targeting a whopping profit of A$100 million within 3-4 years after it commences its operations.

The bank earlier waited for almost two year to get RBI approval in its first stint and the time then bank quitted; it was the second largest foreign bank operating in the country. The bank primarily wants to target areas like institutional lending, mining and agricultural sector and it expects to garner almost 1/5th of its total revenue from the Asian continent. However, it will still take some time before one could claim that this banking giant will be second time lucky on the Indian turf.