Punjab National Bank (PNB) has launched banking operations in Dubai and will set up a branch in the Dubai International Financial Centre (DIFC).
"We are pleased to launch our banking operations in Dubai, a dynamic city that offers rich opportunities in the financial services sector. Its geographical positioning makes it a vital hub for international business," said PNB Dubai CEO Raj Kumar Nair.
Our DIFC branch will serve as a base for targeting the entire Middle East and Africa region, he added.
"DIFC is the ideal gateway for Punjab National Bank to launch its operations in the region, particularly as trade volumes between India and Gulf Cooperation Council continue to grow," said DIFC Authority CEO Abdullah Mohammed Al Awar said.
From the new office we will be offering a range of world-class corporate finance services, including trade finance, credit for long medium-term projects and investment related services, Nair said.