HDFC Bank, the second largest private sector lender in the country, today said it has opened its first representative office in Abu Dhabi to offer services to the non-resident Indians (NRI) based in United Arab Emirates (UAE).
This is the bank's second representative office in UAE. It already has an office in Dubai. HDFC Bank also operates a wholesale offshore branch in Bahrain that provides corporate, trade finance and advisory facilities to both corporates and ultra-high net worth individuals.
The bank's new representative office in Abu Dhabi 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 there. HDFC Bank has also formed partnerships 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 offshore operations to meet the banking requirements of our valued customers," Abhay Aima, group head of equities, private Banking, third party products, NRI and international consumer business at HDFC Bank, said in a statement.
