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« FDI in Multi-brand Retail | Home | Opportunity for Retail Investors »

HDFC Bank opens Overseas Branch for NRIs

Private sector HDFC Bank, has opened its first overseas full-fledged branch in Bahrain with a 25-member strong staff. The branch would offer cash management and trade finance solutions to corporate clients and wealth management services for NRIs, a release issued here on Wednesday stated.

“Bahrain has always been the financial gateway and the banking hub to the Gulf with a firm regulatory framework and an overall dynamic financial sector,” HDFC Bank Executive Director Harish Engineer said. “With increased bilateral business partnerships and investments between GCC nations and India, it was logical for HDFC Bank to use Bahrain as its first stepping stone to increase its direct international presence by opening its first full-fledged overseas branch here to tap the growth potential in the region,” he added.

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