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Indian Bank opens in Australia

9 December 2009

The Indian state-owned Union Bank of India (UBI) has established a foothold in Australia, opening a representative office in Sydney.

The Mumbai-based bank, which has assets of US$13.45 billion and 2,700 branches throughout India, plans to eventually upgrade the Sydney representative office to a fully-fledged branch, as well as extend its base in Australia.

The Union Bank of India has representative offices in Beijing, Shanghai and Abu Dhabi and a branch in Hong Kong.

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