Bank of Baroda opens branch at DIFC
Dubai, April 8, 2013
India-based Bank of Baroda recently opened its100th overseas office at Dubai International Financial Centre.
P Chidambaram, India's Minister of Finance, opened the office in the presence of S S Mundra, chairman and managing director and V H Thatte, general manager (international operations) of the bank.
DIFC is an offshore financial centre strategically located between East and West that provides a secure and efficient platform for business and financial institutions to reach out to the emerging markets of the region, a statement said.
With opening of the branch, the network of service outlets of the bank has gone up to 16 in the UAE and 21 in GCC countries.
The bank will enjoy distinct advantages with opening of DIFC office which is a category-1 offshore branch. The customers will also be immensely benefitted as they will have a blend of both onshore and offshore banking facilities and experience from the same bank, it said. - TradeArabia News Service