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Thiruvananthapuram, Oct. 13 Union Bank of India is gearing up to expand its global presence and has finalised plans to open representative offices or subsidiaries in a few more countries over the next one year.

At present, the bank has a full-fledged branch in Hong Kong and representative offices in Shanghai in China and Abu Dhabi in UAE. It has now obtained licences to open representative offices in Beijing and Guangdong in China, according to Mr M.V. Nair, Chairman and Managing Director.

The bank had applied for Reserve Bank’s permission to set up a representative office in Sydney in Australia. Also on the anvil are representative offices or subsidiaries in Canada, Antwerp in Belgium, New Zealand and Indonesia.

Mr Nair said that if things moved as planned, the bank would have a presence in 10 overseas locations over the next 12 months.

More Stories on : Overseas Investments | Public Sector Banks

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