The Dubai International Financial Center (DFIC) branch of the Punjab National Bank was inaugurated by India's minister of state for finance Namo Narain Meena on Saturday.
The bank will offer an array of financial services to corporate and professional clients.
Through this branch, the bank nurtures bigger ambitions for the UAE, Punjab National Bank Chairman and Managing Director K R Kamath said.
"We are open to the idea of entering the country's banking market through a joint venture or acquisition. We have to assess how much capital will be required and what sort of returns we can expect before a decision on the same is made," Kamath said.
"DIFC is the ideal gateway for Punjab National Bank to launch its operations in the MENA region, particularly as India–GCC trade volumes continue to grow positively," Abdulla Mohammed Al Awar, CEO, DIFC Authority, had said at the time of granting the licence.
The bank runs branches in Hong Kong and the United Kingdom and is also finalising its entry into a few other markets, including Canada and Australia.
PNB plans to establish 100,000 touch points within three years from now as part of the Vision 2013.