Millennium Post

IOB to open full-fledged branches in China, Vietnam

Public sector Indian Overseas bank on Tuesday said it has outlined plans to open full-fledged branches in China and Vietnam.

It is also going in for tie-up with more exchange offices with a view to expanding its business abroad, a top Bank official said.

The Bank has already applied to Reserve Bank of India to upgrade its representative centre at Dubai to a full- fledged branch.

It also plans to open its offices in China and Vietnam subject to clearance from RBI, IOB chairman and managing director M Narendra said. 'Meanwhile, we already have tie-up with Al Haj Bank in Saudi Arabia ,' he said.
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