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Wednesday, Feb 18, 2004

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Money & Banking - Public Sector Banks


BoB plans to expand overseas

Our Bureau

Mumbai , Feb. 17

BANK of Baroda has decided to expand its overseas business across many countries. This decision was arrived at after a two-day meeting of its overseas territorial heads.

"While reviewing the business plan, it has also been decided to explore the possibility to expand its business activities in countries like Singapore, Thailand, Germany, Italy, France, the Netherlands, Spain, Russia, Canada, Mexico, Brazil, Trinidad and Tobago, Australia and New Zealand subject to approval from appropriate authorities," the bank informed the BSE today.

The bank also decided to operationalise its fully owned subsidiary in Tanzania shortly. Bank of Baroda also plans to open its representative offices in Guanghzou (China) and Kuala Lumpur (Malaysia), for which the bank will be obtaining the required approval from the authorities.

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