HDFC to expand services, opens office in Abu Dhabi

HDFC Bank, the second-largest private sector bank in India, on Wednesday opened its first representative office on Salaam Street in Abu Dhabi to provide services to the large number of Non Resident Indians (NRIs) based in Abu Dhabi. This is the Bank’s second representative office in the UAE, with the first situated in Dubai. HDFC Bank also operates a Wholesale Offshore Branch in Bahrain that provides corporate, trade finance and advisory services to both corporates and ultra high-net worth individuals. The new representative office will provide services like facilitation of opening NRE accounts in India, remittance services, fixed deposits in India and other related banking services for India accounts to the NRIs in Abu Dhabi. To cater to its non-resident clients, HDFC Bank also has partners in 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 NRIs in the UAE,” said Abhay Aima, Group Head - Equities, Private Banking, Third Party Products, NRI and International Consumer Business, HDFC Bank. S Sampathkumar, SVP, International Business, Harsh Gupta, Vice President — GCC Business and Rajeev Wariar, Chief Representative of Abu Dhabi were also present for the event. From gulftoday