As part of its global expansion plans, the State-run Oriental Bank of Commerce plans to open more offices in Hong Kong and Africa.
Executive Director, Mr. S C Sinha said, “The bank is in the process of seeking RBI permission for more overseas offices preferably in Hong Kong.” He further added that a full-service branch in Hong Kong provides tremendous business opportunity in terms of trade financing to Indian corporates. He also stated that the bank was also exploring expansion opportunities in Africa, where Bank of Baroda and State Bank of India have a strong presence.
The bank had opened its first overseas branch in Lahore in 1943. This was recently followed by the opening of a representative branch in Dubai this year. The bank is also in the process of launching a recruitment drive with plans to recruit over 1,500 staff during the current fiscal at various levels. The bank had recruited 1,427 personnel during the last fiscal.
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