HDFC Bank Ltd has opened its branch in Dubai at the International Financial Centre, and will provide wealth management services to non-resident Indians based in the UAE.
A bank statement said after Bahrain and Hong Kong, this is HDFC Bank’s third branch overseas. It also operates two more representative offices in the UAE at Dubai and Abu Dhabi which will continue to function.
The new branch will offer advisory services to NRIs on treasury products, trade finance, loans amongst other related services. The bank’s Bahrain and Hong Kong branches offer corporate, trade finance, loans and deposits to both corporates and ultra high net worth individuals.
“We will continue to expand our off-shore operations to meet the banking requirements of our customers,” said Abhay Aima, Group Head - Equities, Private Banking, Third Party Products, NRI and International Consumer Business, HDFC Bank, said in the statement.
As of June 30, the bank had a network of 3,488 branches and 11,426 ATMs in 2,231 cities and towns.