INDIA: DUBAI BIGGEST BANK OPENS BRANCH IN INDIA - CALIPHATE MEDIA

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Saturday, 18 November 2017

INDIA: DUBAI BIGGEST BANK OPENS BRANCH IN INDIA



 Image result for emirates nbd india
Emirates NBD, Dubai biggest bank has kick start operations in India with following the opening of the bank first branch in the city of Mumbai, located in Maker Maxity, Bandra Kurla Complex.

This new branch marks the bank’s fifth international branch outside of its UAE network and is aimed at establishing proximity to its Indian customer base and to support non-resident Indians and businesses looking for cross-border advisory and intermediary services.
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The bank will offer services to corporate, SME and institutional clients including trade finance, treasury services, bilateral and syndicated loans and will also support NRI (non-resident Indian) customers looking for cross-border wealth management solutions.
Emirates NBD’s India operations will be headed by Sharad Agarwal, who has been with the group for 12 years.

Shayne Nelson, group CEO of Emirates NBD said: “We are delighted to expand our footprint to India, building on the UAE’s strong historic, cultural and commercial ties with the country.

“India represents an important and strategic growth market. Emirates NBD is the only UAE-based bank with physical presence across all of India’s important trade corridors from the Middle East and North Africa (MENA) across to Asia and the United Kingdom and our aim is to be the bank of choice for Indian corporates and individuals looking to invest and do business in the MENA region.”

Indians constitute the largest expatriate community in UAE and a third of Emirates NBD’s customer base is from India.
The bank’s 60 second online funds transfer service to India, DirectRemit, has facilitated nearly a billion dirhams of NRI remittance flows this year, the statement said.
Emirates NBD offers NRI clients personal loans against NRE fixed deposits in its Indian partner banks and has a NRI private banking division and a dedicated NRI desk in its London branch.

The lender has invested $100m in capital towards Indian operations, it said in a statement

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