COIMBATORE: HDFC Bank, the second-largest private sector bank in India, opened its branch at the Dubai International Financial Centre (DIFC) to provide wealth management services to the non-resident Indians (NRIs) based in the United Arab Emirates (UAE).

This is the bank’s third branch outside India, the other two being located at Bahrain and Hong Kong. The bank said that it would continue to operate the existing two representative offices in the UAE located at Dubai and Abu Dhabi.

The new branch will offer advisory services to NRIs about treasury products, trade finance, loans and other related services. The bank’s Bahrain and Hong Kong branches offer corporate, trade finance, loans and deposits to both corporates and ultra high net-worth individuals.

“The representative offices in UAE will continue to be engaged in facilitation of services for NRIs regarding their accounts held with branches in India,” the bank said. HDFC Bank is also partnering with exchange houses across Gulf Co-operation Council (GCC) countries for NRI remittances.

“The UAE, and DIFC in particular, has emerged as a major financial centre and the launch of this branch reflects our commitment to the Indian community in the region,” according to Abhay Aima, group head, equities, private banking, third party products, NRI and international consumer business, HDFC Bank. “We will continue to expand our offshore operations to meet the banking requirements of our customers,” he said.

“The bank is offering a wide range of products for corporates / SMEs through its Bahrain Hong Kong branches,” according to Ashish Parthasarthy, group head, treasury, HDFC Bank.

“With the setting up of DIFC branch, the distribution of such products to Gulf clients will be easier,” he said. As of June 30, 2014, HDFC Bank had a distribution network with 3488 branches and 11426 ATMs in 2231 cities/towns.