• Dubai’s biggest bank invests
    USD 100 million capital towards Indian operations
  • Bank to cater to corporate, institutional and NRI clientele



Mumbai, 08 November, 2017: Emirates NBD, a leading banking Group in the
Middle East marked the opening of its first branch in India with a high-level
celebration at the Taj Mahal Hotel, Mumbai.
The Mumbai branch, centrally
located in Maker Maxity, Bandra Kurla Complex, marks the bank’s fifth international branch
outside of its UAE network. The branch will offer a range of
services to corporate, SME and institutional clients including trade finance,
treasury services, bilateral and syndicated loans in addition to supporting NRI (non-resident Indian) customers looking for cross-border wealth management solutions. Emirates NBD’s
India operations will be headed by Sharad Agarwal,
a seasoned professional with over 20 years of
banking experience in India and the UAE, including a decade of experience
within Emirates NBD Group.

Emirates NBD is a major player in the
corporate and retail banking arena in the United Arab Emirates (UAE) and has
strong Islamic Banking, Global Markets & Treasury, Investment Banking,
Private Banking, Asset Management and Brokerage operations
. It has a
significant retail banking franchise in the UAE and is a key participant in the
global digital banking industry, with over 90 per cent of all financial
transactions and requests conducted outside of its branches. The bank currently
has over 231 branches and over a 1000 ATMs and CDMs in the UAE and overseas and
a large social media following, being the only bank in the Middle East ranked
among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The
Financial Brand.

Shayne Nelson,
Group CEO of Emirates NBD
commented, “We are delighted to expand our footprint to
India, building on the UAE’s strong historic, cultural and commercial ties with
the country.  As a key trading partner of
the UAE and as one
of the fastest growing economies in the world, 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 (UK) 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.”
The branch opening by Dubai’s biggest
bank will support existing economic, business and bilateral relations between India
and the UAE following a high-level visit by Prime Minister Modi in 2015 and the
recent establishment of the UAE-India Infrastructure Investment Fund.

Commented Sharad Agarwal, CEO – India at Emirates NBD, We are excited at the opportunities the new
branch brings as we gradually increase our presence in India. We have invested
USD 100 million to establish proximity to our Indian customer base and to
better support NRIs and businesses looking for cross-border advisory and
intermediary services.”
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, Direct Remit, has facilitated nearly a billion dirhams of NRI remittance flows
this year. Emirates NBD offers NRI clients personal loans against NRE fixed
deposits in its Indian partner banks and has a NRI Private Banking division in
addition to a dedicated NRI desk in its London branch. Emirates NBD has presence across all of
India’s key trade corridors from the Middle East and North Africa (UAE, Egypt and KSA) across to Asia (Singapore, China and Indonesia) and
the UK (London).  

 

About Emirates NBD:

Emirates NBD is a leading banking Group in the region. As at
30th September 2017, total assets were AED 461.1 Billion, (equivalent to
approx. USD 125 Billion). The Group has a significant retail banking franchise
in the UAE and is a key participant in the global digital banking industry,
with over 90 per cent of all financial transactions and requests conducted
outside of its branches. The bank was declared the Most Innovative Financial
Services Organization of the Year at the 2017 BAI Global Innovation Awards.
The bank currently has 231 branches and 1031 ATMs and SDMs
in the UAE and overseas and a large social media following, being the only bank
in the Middle East ranked among the top 20 in the ‘Power 100 Social Media
Rankings’, compiled by The Financial Brand. It is a major player in the UAE
corporate and retail banking arena and has strong Islamic Banking, Global
Markets & Treasury, Investment Banking, Private Banking, Asset Management
and Brokerage operations.
The Group has operations in the UAE, Egypt, the Kingdom of
Saudi Arabia, India, Singapore, the United Kingdom and representative offices
in China and Indonesia.
The Group is an active participant and supporter of the
UAE’s main development and community initiatives, in close alignment with the
UAE government’s strategies, including financial literacy and advocacy for
inclusion of People with Disabilities under its #Together Limitless platform.
For more information, please visit: www.emiratesnbd.com
For further information on Emirates
NBD, please contact:
Meenakshi
Group Head – Coporate
Blue Ocean IMC
Tel: 9823322290
Email: [email protected]
 ***

Disclaimer: The article & images used in this blog are the property of pr24x7 & the data is compiled by them.

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