The Hindu Business Line : UCO Bank to open office in China

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Hyderabad Feb. 2 UCO Bank is planning to start its representative office in Guang Zhou province of China by the end of February, according to Mr S.A. Bhat, Executive Director of the bank, who was here to inaugurate the bank's 41st branch in Andhra Pradesh on Friday.

Talking to newspersons, he said the bank has already got the approval from the Reserve Bank of India and also the Chinese central banking authority. It is awaiting the local province approval to begin operations there.

Answering a question, he said though a branch office was on cards, it could be started only two years after having a representative office there according to Chinese laws.

To start with, all the business mobilised through the Chinese office would be transferred to UCO Bank's Hong Kong office. Currently, it has four overseas branches — two in Singapore and two in Hong Kong.

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