CENTRAL BANK OF INDIA MULLING ENTRY IN ASIAN, AFRICAN MARKETS

With a view to develop a global footprint, state-run Central Bank of India is mulling an entry into markets such as Bhutan, Mozambique, Hong Kong and Kenya this year by adopting multiple routes.

"We have applied to the Reserve Bank to have a representative office in Nairobi and enter Mozambique and Bhutan by forging joint ventures with local partners," the bank's Chairman and Managing Director, S Sridhar, told a select group of mediapersons here.

Besides this, the Mumbai-headquartered lender, which completed its centenary recently, has also sought a regulatory go-ahead to have a full-fledged branch in Hong Kong, which will be helpful in raising foreign funds, Sridhar said.

SOURCE: http://articles.economictimes.indiatimes.com/2011-05-08/news/29522689_1_central-bank-mozambique-hong-kong