NEWS & ADVICE : PERSONAL LOAN
Union Bank of India seeks nod from Chinese government for Shanghai branch
By Vaibhav Aggarwal
Feb 4, 2013
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The public sector lender, Union Bank of India had asked permission from Chinese Government to upgrade its representative office in Shanghai to a full-fledged branch, sources said.

Presently, Union Bank of India has representative offices in Beijing and Shanghai and permission has been sought to upgrade its Shanghai office into full-fledged branch.

The Shanghai branch was opened in 2007 and UBI is looking to convert it into a branch as it has already completed the two year mandatory period required to open a full-fledged branch in China.

State Bank of India and Canara Bank has already upgraded their representative offices to full-fledged branches in Shanghai. Bank of India and Bank of Baroda has opened its branches in Shenzhen and Guangzhou respectively.


 


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