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Mr M.V. Nair

L.N. Revathy

Coimbatore, Feb. 26 Union Bank of India is exploring business opportunities in Australia.

While stating that it is still too early to say much, its Chairman and Managing Director Mr. M.V. Nair admitted to visiting the Australian sub continent and meeting up with the Australian Central Bank Governor to explore the opportunities that exist there.

Asked why Australia, Mr Nair, who was here to deliver the CEO’s Charter address on ‘Emerging Challenges in Indian Banking’ at the GRD School of Commerce and International Business said ‘it is closer to India. There are over 60,000 Indian students studying in different institutions out there, compared to 10,000 five years back. The whole world is open. The regulation has to support the opportunity. The response is positive,’ he added.

The bank planned 3 overseas branches in 2007-08. While it has opened the Shanghai and Abu Dhabi branch, the branch at Hong Kong would be inaugurated before end March.

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