Union Bank of India in a bid of opening its branches overseas opened its first branch in Hong Kong. Through its branch bank will be offering a variety of products and services to corporate and individual.
The bank is looking at the possibilities of opening branches in countries, in the geographical boundaries of Africa, Asia, Europe, North America and Oceania.
In a statement released by the bank said the overseas branch at Hong Kong and the representative office in Shanghai will help the bank to look at opportunities from the growing Indo-Chinese trade relations.
The Hong Kong branch main aim will be to target major business in wholesale banking, syndication, trade finance and other trade related businesses and retail banking.
Currently Union Bank is having representative offices at Shanghai, PRC and Abu Dhabi, UAE. Bank did total business of USD 44800 million as of Mar. 31, 2008, with an asset base of USD 30926 million.