Public sector lender, Union Ban of India is aiming to expand its overseas reach in UK, Australia and Belgium. The bank is awaiting an approval in this regard in the upcoming six months.

It plans to set up a subsidiary in the UK while a branch in Australia and Belgium.

"We hope to get approval from the respective regulators in the next six months," Union Bank of India Chairman and Managing Director MV Nair said.

Regulatory approval has already been received from Reserve Bank of India in this regard.

The branches are planned to be set up in Antwerp (Belgium) and Sydney (Australia). Currently there are representative offices of the bank in UK and Australia.