HDFC Bank has opened its first representative office in Abu Dhabi to provide services to a large number of non-resident Indians (NRIs) based in the city.
This is the bank’s second representative office in the UAE, with the first situated in Dubai.
“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,” HDFC Bank Group Head (Equities, Private Banking, Third Party Products, NRI and International Consumer Business) Abhay Aima said.
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.
“We will continue to expand our off-shore operations to meet the banking requirements of NRIs in the UAE,” Aima said.