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Join Date: 05 Mar 2015
Location:  QatarPosts: 27 |
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Doha Bank to be a real ‘connector’ between GCC countries and India: Seetharaman |
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Doha Bank to be a real ‘connector’ between GCC countries and India: Seetharaman
Doha Bank will be a real “connector†between the GCC countries and India, whose businesses seek investment opportunities in two of the fastest growing economies of the world, said Group CEO, Dr R Seetharaman. In an interview with Gulf Times here yesterday, Seetharaman said Doha Bank would focus on bilateral trade, investment and banking relationships between the two blocks and also leverage on economic linkages. “We aim to capitalise on the large number of Indian companies and expatriates in Qatar as well as the wider GCC region. Doha Bank will focus on Indian corporates targeting GCC, remittances’ segment and also on retail products and wealth management products to NRI customers in India. Doha Bank will leverage on GCC network and support the clients at both the ends. We will be driven by the philosophy ‘customer is the king’ and will leverage on digital banking to provide innovative solutions to our customers,†he said. Seetharaman said Doha Bank was planning to scale up its operations in India in a big way. “We are keen to expand our operational presence in India in the years to come and have already set in motion our plans to service the customers through innovative and technology driven products and services. Some of the key products and services include comprehensive NRI ‘4-in-1’ account packages, privileged status for high networth individuals, project finance/advisory services to link GCC markets, instruments such as external commercial borrowings and unique deposit/investment banking products for non-resident Indians. “All these products would be appropriately supplemented by technology driven solutions such as digital account opening - tablet banking, best in class mobile as well as phone banking solutions with SMS Alerts, robust Internet banking solutions, instantaneous e-remittances from GCC to India, online payment integration with utility services and dedicated ‘India Desk’ across all Doha Bank overseas locations to service its customers.†Besides Mumbai and Kochi, Seetharaman said Doha Bank planned to open a branch in Chennai. “Qatar and India are the two fastest growing economies – both in excess of 7% now. Qatar – India bilateral trade was more than $16bn in 2013-14. It is growing rapidly,†he pointed out. Doha Bank, he said, in 2013 secured licence from the Reserve Bank of India to commence banking operations in India. “We were on the lookout for acquisitions of private banks as means of expanding our operations in India. In 2014 we inked an agreement to acquire Indian banking business of HSBC Bank Oman SAOG. The business being acquired consists of two branches and gross assets of Rs350 crore ($58mn) as on December 31, 2013. “This year our Indian operations have completed the process of amalgamation of the India operations of the HSBC Bank Oman and have taken over the operations of their two branches in Mumbai and in Kochi respectively,†he said. Source:gulftimes http://www.gulf-times.com/eco.-bus.%20news/256/details/437107/doha-bank-to-be-a-real-%E2%80%98connector%E2%80%99-between-gcc-countries-and-india%3A-seetharaman |
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