In a bid to achieve global status,Indian public sector bank major Central Bank of India has drawn up plans to open its branches in various foreign countries.
At present, the bank has a presence at Mozambique in Africa.
As part of its global expansion plans, the bank would soon open outlets in Bhutan, Nairobi, Dubai and also in Sri Lanka, a top company official said.
"We have applied for approval from Reserve Bank, country's Central Bank, for operations in Bhutan, Sri Lanka, Nairobi and also in Dubai..", S Sridhar, Chairman and Managing Director of the Bank,said.
Stating that the Bank would look for a joint venture partnership with a local company having a strong presence, he said, "in Mozambique we are having a tie-up with a company which is a conglomerate. They are present in many sectors. For
setting up the bank (in that country), they will have 24 per cent stake while we will have the majority 76 per cent stake".
Central Bank of India reported 22.43 per cent decline in its net profit at Rs 132.7 crore for the fourth quarter ended March 31.It had a net profit of Rs 171.06 crore in the year-ago period.