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Wednesday, Jun 23, 2004

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Bharat Overseas sees gains from Indo-Thai pact

Our Bureau

Chennai , June 22

BHARAT Overseas Bank, the only Indian bank that has a branch in Thailand, expects positive spin-off from the India-Thailand Free Trade Agreement.

"We are well-positioned to capture the business," Mr G. Krishnamurthy, Chairman, told newspersons on Tuesday on the sidelines of a meeting held to celebrate the 25th anniversary of the bank's Anna Nagar branch in the city.

The bank's Thailand business is worth a little over Rs 500 crore, about a tenth of the total business. Of this, advances are about Rs 280 crore. It has about 700 corporate customers.

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