HDFC Bank has opened a branch in Dubai to provide wealth management services to large Indian diaspora in the Gulf city.
This is the bank's third overseas branch after Bahrain and Hong Kong, the bank said in a statement.
In the United Arab Emirates, the second largest private lender has representative offices in Dubai and Abu Dhabi, and plans to continue running both of them, it said.
The new branch at Dubai International Finance Centre (DIFC) will offer advisory services to NRIs regarding treasury products, trade finance, loans and other related services, it said. The branches at Bahrain and Hong Kong offer corporate, trade finance, loans and deposits to corporates and ultra high net worth individuals, it added.
Meanwhile, the bank has launched an 'ForexPlus' card for people making the Haj and Umrah pilgrimages. Pilgrims can use the card to make all payments during the pilgrimage in a convenient and secure manner and thus avoid carrying Saudi Riyals, which might get misplaced.
ForexPlus card can be used to withdraw money from ATMs as well, it said. The prepaid forex card will be offered at branches across the country from August 18 onwards. Both HDFC Bank customers and the general public can avail of the product, it added.