Emirates NBD opens first branch in India and pledges to invest $100 million capital in Indian operations
Dubai-based bank Emirates NBD has started operations in India after opening its first branch in the country in Mumbai.
Emirates NBD said that it plans to invest $100 million capital into its Indian operations.
The new branch marks the Emirates NBD’s fifth international branch outside of its UAE network.
The branch will offer services to corporate, SME and institutional clients including trade finance, treasury services, bilateral and syndicated loans. It will also support non-resident Indian customers looking for cross-border wealth management services. Emirates NBD’s India operations will be headed by Sharad Agarwal, who has 20 years of banking experience in India and the UAE, including a decade of experience within Emirates NBD Group.
Shayne Nelson, Group CEO of Emirates NBD, said: “India represents an important and strategic growth market.” Indians constitute the largest expatriate community in UAE and a third of Emirates NBD’s customer base is from India, according to a statement from the bank.
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