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Friday, 13 December 2013

IOB gets RBI nod to open 2nd branch in Bangkok

Indian Overseas Bank (IOB) has received the Reserve Bank of India approval for opening a second branch in Bangkok, Chairman and Managing Director M. Narendra has said.

The public sector lender will open the second branch before March-end next year, Narendra toldBusiness Line here.

IOB is the only Indian lender to have a branch presence in Bangkok.

Narendra also said IOB has re-applied to the RBI for establishing its presence at the Dubai International Financial Centre.

A few years back, IOB had roped in Deloitte to devise a strategy for its overseas expansion. Read more