HDFC Bank opens first overseas branch in Bahrain

New Delhi, Oct 22 (UNI) HDFC Bank, the country's second largest private sector bank by net profit, today said it has opened up its first overseas full-fledged commercial branch in Bahrain.

The Bank has been granted a full commercial branch (FCB) licence by the Central Bank of Bahrain (CBB) and the FCB will offer cash management and trade finance solutions for corporate clients and wealth management services for non-resident Indians, it said in a statement.

''With increased bilateral business partnerships and investments between Gulf Cooperation Council (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,'' HDFC Bank Executive Director Harish Engineer said.

After the European Union and the United States, the GCC nations have emerged as the third largest trade partners for India .

UNI SG MP SB NS1653