Corporation Bank forays into Dubai

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Dubai, Oct 2 (UNI) India's Corporation Bank has ventured into an overseas market for the first time, with a representative office in Dubai.

''The 102-year-old bank, which recorded a profit of Rs 730 crore during the last financial year, will provide banking consultation and financial services while promoting the Bank's retail products, including insurance and mutual funds,'' Bank Chairman and Managing Director B Sambamurthy said here.

He said the Bank hopes to promote investment both in India and the UAE, and it will venture further into the international markets in near future and open branches in China, London and other parts of the West Asia.

''We hope to provide Indian communities with an opportunity to trade and invest, while providing banking services as well,'' the Gilf News quoted him, as saying.


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