Government-run Union Bank of India (UBI) which is aiming to expand its overseas business is likely to get regulatory approval in the next six months. It is planning to set up a subsidiary in the United Kingdom and a branch in Australia and Belgium. However, the bank has already got approval from RBI for setting up operation in these countries. It plans to open a branch in Antwerp, Belgium and Sydney, Australia. The bank also plans to open a subsidiary in UK, which can cater to customers in the European region. Presently, the bank has representative offices in Sydney and London. Apart from this, the bank has a full-fledged branch in Hong Kong. The branch carries out normal commercial banking operations like acceptance of deposits, trade finance, external commercial borrowing (ECBs) and syndicated loans.

Government-run Union Bank of India (UBI) which is aiming to expand its overseas business is likely to get regulatory approval in the next six months. It is planning to set up a subsidiary in the United Kingdom and a branch in Australia and Belgium.
However, the bank has already got approval from RBI for setting up operation in these countries. It plans to open a branch in Antwerp, Belgium and Sydney, Australia. The bank also plans to open a subsidiary in UK, which can cater to customers in the European region.
Presently, the bank has representative offices in Sydney and London. Apart from this, the bank has a full-fledged branch in Hong Kong. The branch carries out normal commercial banking operations like acceptance of deposits, trade finance, external commercial borrowing (ECBs) and syndicated loans.