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Saturday, August 27, 2011

BoI raises $200 mn to expand foreign operations

State-run lender Bank of India today said it had raised $200 million to expand its foreign operations.

The city-headquartered bank has raised the money thorough a syndicated foreign currency loan for three years at an "attractive rate of interest", a statement issued here said.

"The proceeds will be utilised for expansion at the foreign operations," it added.
However, it did not specify exact plans on the international expansion front.

The bank at present has 24 foreign branches and five representative offices spread across 18 countries across the world.

Source: Business Standard


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