UAE in expansion drive is viewed by Bank of India

UAE in expansion drive is viewed by Bank of IndiaA senior central bank official, Seif al-Shamsi quoted to daily Al-Khaleej newspaper on Wednesday that the world's third biggest oil exporter, The Central bank of The United Arab Emirates has no endeavor of changing the minimum mandatory reserves for bank.

The Central Bank of India may join Indian financial institution present in UAE for benefits of non resident Indians.

A branch is to be opened at Dubai International Financial Centre, an offshore financial district and another branch at Emirates at its anniversary celebration in 2011. Bank's overseas expansion partner will be Gulf foray.

In term of branch network, India's third largest bank would see its expansion on other countries like Hong Kong, Bhutan, Nigeria, Tanzania and Mozambique.

Non-performing assets are to be reduced and Rs 6 billion could be recovered from NPA accounts before the end of this financial year. `Cent fast2 India' is a cross country allowances facility which is launched in collaboration with bank of New York Mellon for NRIs in US.

Central Bank of India has doubled its profit to Rs15 billion it is the best year in stricture.