Public sector lender, Indian Overseas Bank is planning to convert its representative office in China to a branch, informed a top official of the bank.

"A period of five years is enough to convert it into a full scale branch of the bank," M Narendra, chairman and managing director of the bank said.

The bank has plans to set up five more branches in Asian and African nations, thereby increasing its offshore branch count to 11, he said.

Currently there are six offshore branches in the bank's kitty one each in Singapore, Hong Kong, Seoul, Bangkok and Colombo and representative offices in Dubai, China and Vietnam, he said.

"We will also be starting a bank in Malaysia in a joint venture with the Andhra Bank and Bank of Baroda before March 2011," Narendra said.

On the domestic front, the branch network is targetted to reach 3000 by 2017 along with achieving total business target of Rs 5 lakh crore.