UCO Bank puts international expansion plans on hold

UCO Bank puts China, Malaysia expansion plans on hold. Kolkata-based public sector lender UCO Bank has put on hold its expansion plans in China and Malaysia due to the high capital involved.

According to Mr Arun Kaul, the Chairman and Managing Director of UCO Bank, the bank had initially planned to upgrade its representative offices but it has closed down its offices in these two countries last year due to the extremely strict capital adequacy requirement. The bank currently has four overseas branches — two in Singapore and two in Hong Kong.

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