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.
