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This is the bank’s third branch outside India, the other two being located at Bahrain and Hong Kong.
The bank will continue to operate the existing two representative offices in the UAE located at Dubai and Abu Dhabi.
The new branch will offer advisory services to NRIs regarding treasury products, trade finance, loans and other related services.
“The UAE, and DIFC in particular, has emerged as a major financial center and the launch of this branch reflects our commitment to the Indian community in the region. We will continue to expand our off-shore operations to meet the banking requirements of our valued customers,” said Abhay Aima, Group Head - Equities, Private Banking, Third Party Products, NRI and International Consumer Business, HDFC Bank.
Ashish Parthasarthy, Group Head – Treasury, HDFC Bank said, “The bank is offering a wide range of products for corporates / SMEs through its Bahrain & Hong Kong branches. With the setting up of DIFC branch the distribution of such products to Gulf clients will be easier.”
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