Date:04/04/2007 URL: http://www.thehindubusinessline.com/2007/04/04/stories/2007040405220600.htm

Back Spanish co to open rep office

Our Bureau

Mumbai, April 3

BBVA, a Spanish financial services group, has received the RBI approval to open a representative office in Mumbai. The representative office will have five staffers and will be managed by BBVA's Singapore branch. The bank's present business in India amounts to more than € 400 million (about Rs 23.1 crore). In 2006, the group had signed an agreement on money transfers with ICICI Bank.