November 13, 2017

// // Leave a Comment

Second largest lender from UAE to open a branch in India

Emirates NBD is the second largest lender in UAE and the first Gulf-based bank that has been lured to open one of its branches in India, keeping in mind the rising Indian Economy. Another reason contributing to their expansion is also the aim to diversify beyond UAE and the increasing trade between India and UAE.

After banks like National Bank of Abu Dhabi, Doha Bank, and Qatar National Bank, Emirates NBD, is next in the line, with $124 Billion of assets. According to the Emirates NBD group CEO, the banks are only following their Indian customers, where there is a huge market, with lots of capital, unlike the west.

Image result for emirates nbd
Image Source - Wikipedia

The growing Indian population and the economy make it an attractive destination for such lenders, who are looking for locations with high returns. With banks and population in the Europe shrinking, India has suddenly emerged as an ideal destination for business. Keeping in mind a similar growth rate, there are high chances of more such branches opening in India.

Three of the Emirates NBD branches from Saudi Arabia are partners for large bilateral trade with India, this is another market that Emirates NBD is aiming to tap because of no Indian banks in the region


Post a Comment