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India’s Corporation Bank pushes risky overseas expansion
Government-controlled Corporation Bank plans to establish 400 overseas branches in just two years.
Ajai Kumar, Chairman and Managing Director, said the bank intends to become a leading pan-India bank through consistent and stable growth that can be attained by branching out overseas.
The bank plans to open 200 branches this fiscal year and another 200 branches the next fiscal year.
It will also upgrade its representative offices in Hong Kong and Dubai into branches, confirming the importance of Hong Kong as a key center for its operations.
Kumar would also like to see the bank have a presence in Bangladesh, Nepal and Africa.
“I am bullish on Africa,” he said.
Corporation Bank is based in Mangalore.
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