March 5, 2018 / 12:46 PM / 9 months ago

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

March 5 (Reuters) - Punjab National Bank:

* 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:

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