The Hindu Business Line : BoB to open China branch in August

Mr M.D. Mallya, Chairman and Managing Director, told Business Line that the bank has a representative office in China. “We will be converting it into a regular branch. The branch is likely to be operationalised in the first week of August,” he said.

Recently, the China Banking Regulatory Commission gave its approval to the bank to set up a branch in Guangzhou, the capital of southern China’s Guangdong province.

The bank, which has a branch in New York in the US, is planning to make an application for a branch in Houston, he said. It also plans to open branches in New Zealand and Canada.

Bank of Baroda has a strong international presence with 71 offices in 25 countries, and these branches contribute to nearly 20 per cent of the business of the bank. The bank is planning to add 10 more offices and branches during the current fiscal.

Asked about the expansion plans in India, he said the bank will operationalise the 91 licences to open branches in the country, by the end of September. The bank will seek another 150 licences to open branches in the country, he added.

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