BOB MULLS SUBSIDIARY IN EUROPE

Article Abstract:

Bank of Baroda (BOB) is studying a proposal of setting up a wholly owned subsidiary in Europe. It had appointed a consultant to study the feasibility of owning a subsidiary in Europe. The consultant had recommended the location of the subsidiary either in London or Brussels. Bank has yet to finalise the location. With the introduction of euro, BOB has decided to reduce the number of Nostro accounts in the European Union from 19 to five by the end of 1999 calendar year. (um)

Europe, Foreign operations, Bank of Baroda (India)

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PLANS STRATEGIC BUSINESS DEAL WITH CHASE MANHATTAN

Article Abstract:

HDFC Bank will sign a memorandum of understanding with Chase Manhattan Bank for strategic business collaboration. This will help HDFC Bank to offer a wide range of international banking products to its clients by leveraging the global banking capabilities and branch network of Chase Manhattan outside India. The global clients of Chase Manhattan will also get broader access to domestic banking products and services through HDFC Bank. (khr)

United States, Strategic alliances, Chase Manhattan Corp., CMB, HDFC Bank Ltd.

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