 Mumbai February 14, 2010, 0:09 IST |
plans to enter South Africa and Indonesia to expand
its international business operations and raise its share
in the total business to 7 per cent in next three years.
The outstanding international business was $3 billion at
end of December 2009, which amounts to about 3 per cent
of total business (deposits and advances).
The bank’s intention to enter Africa and Indonesia was
to benefit from business opportunities due to growth in
bilateral trade.
The Delhi-based bank would choose routes
(branch, subsidiary or acquisition) based on regulatory norms
and business prospects, its Chief General Manager
Ranjan Dhawan said on the sidelines of a function to
commence merchant acquisition business.
The bank is in the process of establishing a subsidiary in
Canada. It operations are expected to start by end of 2010.
Initially, it would invest $25 million as regulatory capital for
the Canadian subsidiary.
Meanwhile, the bank said it would scale up its automated
teller machine (ATM) base to 8,000 units from the present
3,075 units by 2013. It may incur an expenditure
of Rs 400 crore to ramp up its ATM network.
On point of sale terminals, its Chairman and
Managing Director KR Kamath said the bank
would first cover 10 cities and then gradually extend
it to other business centres.
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