Syndicate bank is looking forward to open its new fully fledged branches outside the country. The bank wants to expand its network abroad and set up new branches in Dubai and South Africa by next year.
Till now the bank is having its overseas banking through its branch in London which was established in 1977. The bank has applied for the permission to the apex bank of the country – RBI. The executive director of the bank has reported that the bank has received permission from UAE and South Africa to set up its branches over there.
Now the bank is waiting for the final permission from the RBI to set up its international branches in UAE, South Africa, China and Hong Kong. Further it was reported that there are lesser chances to get the permission to set up the branch in China.