Financial Daily from THE HINDU group of publications
Friday, Jan 20, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 20, 2006 |
|
|
|
|
|
|
|
Money & Banking
-
Public Sector Banks BoI sets exim finance target at Rs 50,000 cr Our Bureau
Mr M. Balachandran
Visakhapatnam , Jan. 19 BANKof India is aiming to increase substantially its export-import finance this year with a target of Rs 50,000 crore in mind, according to Mr M. Balachandran, Chairman and Managing Director. At a press meet here on Thursday, he said currently the bank was lending Rs 23,000 crore for exports and Rs 21,000 crore for imports and "we want to take it to Rs 25,000 crore apiece this year.'' He said the bank had 24 offices abroad in Japan, Hong Kong, Singapore, the UK and the US. "We are planning to open offices in Johannesburg (South Africa), Antwerp (Belgium) and a subsidiary in Tanzania. Further, the offices in China and Vietnam will be upgraded,'' he said. He said the bank had a tie-up with the Japanese Bank for International Co-operation for channelising credit of five billion yen and it could be used by entrepreneurs for import of machinery and other purposes. Mr Balachandran said the bank wanted to open 78 more branches in the country, in addition to the existing 2,600, and the RBI had given permission for 50 branches. "We are awaiting permission for the rest. We have plans to open five more branches in Andhra Pradesh, in addition to the existing 84,'' he said.
More Stories on : Public Sector Banks
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|