HDFC Bank opens representative office in Abu Dhabi
08 October 2012
India's second-largest private sector bank, HDFC Bank, today said it had opened its first representative office in Abu Dhabi to provide services to the large number of non-resident Indians based in the UAE.
The Abu Dhabi office is the bank's second representative office in the UAE after Dubai. HDFC Bank also operates a wholesale offshore branch in Bahrain that offers corporate, trade finance and advisory facilities to both corporates and ultra high-net worth individuals.
The new representative office will facilitate opening of NRE accounts in India, and offer remittance services, fixed deposits and other related banking services for India accounts to NRIs based in Abu Dhabi.
To cater to non-resident clients, HDFC Bank also partners with exchange houses across Gulf Co-operation Council (GCC) countries for NRI remittances.
''The UAE is an important global business centre and this initiative reflects our commitment to bring world-class banking services to the doorstep of 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.