[AI] unionbank of india news

p.r. pandey pushkar1968 at gmail.com
Wed Aug 22 10:16:21 EDT 2007


Union Bank to open 200 more branches

Chennai, Aug. 18 (PTI): The Union Bank of India plans to open 200 more branches and 700-800 ATMs across the country by the end of this year, a top official
of the bank said.

The bank has also got approval for opening a representative office in Abu Dhabi and will open it in three months, Executive Director R S Reddy told reporters
here today after launching the 43rd ATM of the bank.

The bank would be opening a branch in Hong Kong by December this year and has already got approval from the RBI. "It is in the last stages and we have to
get approval from the Hong Kong Monetary Authority," he said.

"We are trying to open representative offices in Doha, Sri Lanka and Dhaka," he said adding the bank was looking at three to four countries, including Africa
for launching operations.

Reddy said the joint venture with the Japanese insurance company Deichi and Bank of India for providing insurance should be finalised in about six months
once the IRDA approval is got.


pushkar at bol.net.in


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