Vijaya Bank plans overseas offices, raise Rs 600cr

Vijaya Bank is planning to open offices overseas for the first time.

"We are planning to open representative offices in Hong Kong, China, Dubai and Malaysia," Vijaya Bank chairman and managing director Prakash P Mallya said today.

"We have already applied to the Reserve Bank of India for opening offices in China, Hong Kong and Dubai. We will seek the approval of the countries after we get the RBI nod. We hope we will able to set up the first overseas office in the next one year," he said.

Updated at 1420 hrs: Vijaya Bank is planning to raise Rs 500-600 crore upper tier-II capital soon. This was announced by CMD Prakash P Mallya at a press meet in Kolkata this afternoon.