Sumitomo Mitsui Banking Corporation has gained approval to re-launch a branch in India, seven years after exiting the region.

In February 2005, the Japanese lender closed its Mumbai and New Delhi branches and instead signed a business alliance with UK bank Standard Chartered, by setting up a Japan desk in its India office.

Now SMBC is ending its agreement with Standard Chartered as of the end of this month, after having received a license from the Reserve Bank of India to establish another branch.

“The establishment of our new branch in New Delhi will enable us to strengthen our global network and continue to offer enhanced, comprehensive services to our clients,” said SMBC president Takeshi Kunibe, in a statement.