Keeping an eye on the foreign markets, Union Bank of India is set to open its first overseas branch at Shanghai in China next month.
The bank is also contemplating to open another branch in Doha and two representative offices in Hong Kong and Dubai.
"We will open our first overseas branch in Shanghai next month," Union Bank of India, General Manager, V K Dhingra said.
The bank has been given licenses by RBI for opening offices in Hong Kong, Doha and Dubai, he said. "These will also be opened soon but the bank is just awaiting the approval from their respective governments."
Expansion on the domestic front is also in the offing with the bank planning to open 125 branches during the next fiscal. "We will open 125 branches in next financial year across the country with a view to strengthen our position here," he said.
