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J&K Bank looks at overseas expansion

Jammu and Kashmir Bank is exploring opportunities to expand outside India. The bank is likely to open branches in Dubai and London to strengthen its relationships with existing customers who have business interests in West Asia and Europe. Mushtaq Ahmad, chairman and chief executive officer of the bank, said the bank is exploring possibilities to establish its presence in one or two overseas centers like Dubai and London. While no final decision has been taken, it will probably set up branches in these two geographies. He, however, clarified that the plan was still in its early days and the bank was yet to seek approval from the regulators. At present, J&K Bank does not have any overseas branch. At the end of the December quarter, it has 762 domestic branches, a majority of them in Jammu and Kashmir.

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