Union Bank of India, one of the largest state-owned banks in India, has opened its first full fledged branch in Hong Kong, offering a variety of products and services to corporate clients and individuals. According to the bank, the overseas branch at Hong Kong and the representative office in Shanghai would enable Union Bank to explore opportunities from the growing Indo-Chinese trade relations. The Hong Kong branch will be targeting major business in wholesale banking, loan syndication, trade finance and other trade related businesses and retail banking. This is another major step in the Bank's plan to expand its global presence. The bank is exploring the possibilities of opening branches in other countries as well including the parts of Africa, Asia, Europe, North American and Oceania.