Brief: SBI Hong Kong Says Co Does Not Have Exposure Against Corporates/Banks Based On LoUs By PNB, Brady House Branch

Gitanjali Gems

05/03/2018 12:44

March 5 (Reuters) - Punjab National Bank  PNBK.NS :
    * SBI HONG KONG SAYS DOES NOT HAVE ANY EXPOSURE AGAINST ANY
CORPORATES/BANKS BASED UPON LOUS/LCS ISSUED BY PNB, BRADY HOUSE
BRANCH
    * SBI HONG KONG BRANCH DOES NOT HAVE ANY EXPOSURE TO NIRAV
MODI
GROUP OF COS AND / OR MEHUL CHOKSI GROUP OF COS

Source text - We refer to the news dated 18th February 2018 &
19th February 2018 reported by some sections of media and advise
that SBI Hong Kong Branch does not have any exposure against any
corporates / banks based upon LOUs / LCs issued by PNB, Brady
House Branch. Further, SBI Hong Kong Branch does not have any
exposure to the Nirav Modi Group of companies and / or Mehul
Choksi group of companies whose names are linked to the PNB
fraud.

Further company coverage:  PNBK.NS 

 ((Reuters.Briefs@thomsonreuters.com;))