Jul 11, 2012

Malaysia - India International Bank plans 5 branches in Malaysia

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Deputy Minister of Finance, Datuk Ir Donald Lim Siang Chai receiving a souvenir from the Indian Overseas Bank chairman and managing director, M. Narendra. Looking on is the Union Minister of State for Finance of the Government of India, Namo Narain Meena (2nd right) and Bank of Baroda chairman and managing director, M.D. Mallya (2nd left). It was after the official launch of the India International Bank Malaysia Bhd.

KUALA LUMPUR: India International Bank Malaysia Bhd aims to open five commercial banking branches in its first year of operations in Malaysia.

The bank, which is the first India based bank to clinch a licence from the government, is looking to expand to 15 branches in the next three years.

It targets to have a presence in Kuala Lumpur, Klang, Penang, and Johor Bahru where there is a sizeable number of Indian people, its director, M. Narendra said at the official launch on Wednesday.

Daniel Khoo


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