Public sector lender Dena Bank is reportedly planning to open its first overseas office in London by the end of December 2013. The bank has already received approval from RBI and government for opening a representative office in London. The bank also intends to open branches in Hong Kong, Nairobi and Johannesburg.
Dena Bank was established in 1938 and was nationalized in July 1969. As on March 31, 2012, the bank has 1,342 branches and 543 ATMs with 57% branches in rural and semi-urban areas. More than half of the bank’s branches are in the states of Gujarat and Maharashtra.
