Emirates NBD Begins Operations in India
Emirates NBD, a leading bank in the region, marked the commencement of operations in India, with the inauguration of its very first branch in the country's commercial centre, Mumbai.
The Mumbai branch, centrally situated in Maker Maxity, Bandra Kurla Complex, marks the bank's fifth worldwide branch outside of its UAE network. The branch will supply a variety of services to corporate, SME and institutional clients including trade money, treasury services, bilateral and syndicated fundings along with sustaining NRI (non-resident Indian) customers searching for cross-border wealth administration remedies.
Emirates NBD's India operations will be goinged by Sharad Agarwal, a skilled specialist with over Two Decade of banking experience in India and the UAE, including a decade of experience within Emirates NBD Group.
Shayne Nelson, Group Chief Executive Officer of Emirates NBD commented, "We are delighted to expand our impact to India, building on the UAE's strong historic, cultural and industrial ties with the country. As a key trading partner of the UAE and as one of the fastest expanding economic situations in the world, India represents a crucial and tactical development market. Emirates NBD is the only UAE-based bank with physical presence across all of India's crucial trade passages from the Middle East and North Africa (MENA) throughout to Asia and the UK (UK) and our purpose is to be the bank of option for Indian corporates and people aiming to invest and do business in the MENA region."
Indians constitute the biggest expatriate community in UAE and a third of Emirates NBD's customer base is from India. The bank's 60 2nd online funds transfer solution to India, DirectRemit, has helped with nearly a billion dirhams of NRI compensation flows this year. Emirates NBD offers NRI clients personal finances against NRE taken care of deposits in its Indian partner financial institutions and has a NRI Private Banking division along with a committed 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).
