NEW DELHI: State-owned Allahabad Bank on Friday stated it proposes to near its only foreign department in Hong Kong as part of rationalisation of its overseas operations.
In compliance with the federal government's directives underneath PSBs' reform schedule, the bank has initiated various steps, Allahabad Bank stated in a filing to inventory exchanges.
"As a part of its said initiatives and having regard to the agenda for rationalization of Bank's overseas operations, the Bank proposes to close its Hong Kong Branch," it stated.
In compliance with the federal government's directives underneath PSBs' reform schedule, the bank has initiated various steps, Allahabad Bank stated in a filing to inventory exchanges.
"As a part of its said initiatives and having regard to the agenda for rationalization of Bank's overseas operations, the Bank proposes to close its Hong Kong Branch," it stated.
Allahabad Bank to close its foreign branch in Hong Kong
![Allahabad Bank to close its foreign branch in Hong Kong]()
Reviewed by Kailash
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July 21, 2018
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