Bank of India opens Branch at Antwerp in Belgium

Mumbai, Mar 24: Bank of India (BoI) has opened its branch at Antwerp in Belgium recently.

The branch was inaugurated on March 22 by Indian Ambassador to Belgium and Luxembourg and to the European Union Dipak Chatterjee.

Bank's Chairman and Managing Director M Balachandran, European Branches' Chief Executive Satish Gupta was present on the occasion along with other dignitaries and guests, a bank release here today said.

With the opening of this branch, the number of bank's overseas offices have now become 25, spread in 13 countries and 5 continents.

Its international operations contribute around 20 per cent of bank's total business and 32 per cent of total net profit.

As part of its international foray, BOI had recently taken over management of Almana Exchange House in Doha Qatar. The bank is also in the process of setting up a subsidiary in Tanzania and a Representative Office in Johannesburg (South Africa). Also, it has received approvals from Reserve Bank of India to set up branches at Dhaka (Bangladesh) and DIFC (Dubai), a subsidiary in Canada and a Representative Offices at Dubai, Doha (UAE), the release added.

UNI