Public sector lender, Central Bank of India is focusing deeply for increasing its offshore presence. The lender is eyeing to make an entry into African and Asian markets like Bhutan, Mozambique, Hong Kong and Kenya in this fiscal.

"We have applied to the Reserve Bank to have a representative office in Nairobi and enter Mozambique and Bhutan by forging joint ventures with local partners," the bank's Chairman and Managing Director, S Sridhar said.

According to Sridhar, Bhutan and Mozambiques' regulations require a local tie up to be done in order to gain entry into these countries.

"In Bhutan, there is a lot of money floating beyond (the capital) Thimpu. Plus, with a system like the Unique Identity project of India already in place, the KYC (know your customer) gets easy and accounts can be opened fast."

"Also, I have found the people of Mozambique have a lot of respect for Indians. They look at Indians as honest people and there have been instances of them turning to us for advice. These factors will help the bank," he said.