HDFC Bank opens first overseas in Bahrain

[sajiv]

Mumbai : leading Indian private lender HDFC Bank on Wednesday, Oct 22 announced the opening of its first overseas full fledged commercial branch in Bahrain. The Bank, in a release here, said it had been granted a full commercial branch by the Central bank of Bahrain. The new Bahrain branch, with a strong 25 member staff, will offer Cash Management and Trade Finance solutions for corporate clients and Wealth management services for Non Resident Indians.

Speaking at the inauguration of the new branch, Mr. Harish Engineer, Executive Director, HDFC Bank, said "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. 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''.