- Doha Bank is the first Qatari bank to establish its full scale banking operations in India
- · In March, Doha Bank had taken over the operations of the HSBC Oman SAOG and its branches at Raheja Centre in Mumbai and in Kochi
Kochi, May 2, 2015: Doha Bank, one of the largest commercial banks in the State of Qatar, started its India operations in Mumbai. Doha Bank is the first Qatari bank to establish its full scale banking operations in India. In March, Doha Bank had taken over the operations of the HSBC Oman SAOG and its branches at Raheja Centre in Mumbai and in Kochi. As the Mumbai branch was just inaugurated, the bank will start its operations soon in Kochi as well.
The inaugural ceremony in Mumbai was attended by several high-profile dignitaries including H.E. Ali Sharif Al Emadi, the Minister of Finance, State of Qatar; H.E. Sheikh Abdullah Bin Saoud Al-Thani, the Governor of Qatar Central Bank and Shri. Suresh Prabhu, Minister of Railways, Government of India. Doha Bank was represented by H.E. Sheikh Fahad Bin Mohammad Bin Jabor Al Thani, Chairman,; H.E. Sheikh Abdul Rehman Bin Mohammad Bin Jabor Al Thani, Managing Director; Mr. Ahmed Al Khal, Board Member of Doha Bank; Dr. R. Seetharaman, CEO of Doha Bank along with the senior management team of Doha Bank.
HE Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of the Board of Directors of Doha Bank said that it was a historic moment for Doha Bank’s expansion in the Indian subcontinent. “We consider India as an important market, being one of the fastest growing economies in the world, which is expected to overtake China in the years to come,” he said. “Doha Bank has been pursuing a well thought out international expansion strategy as envisioned by the Board of Directors of the Bank, by extending our global footprint across 15 nations worldwide. In this pursuit, Doha Bank is the first Qatari bank to establish its full scale banking operations in India. With its presence in the GCC countries, Doha Bank would further enhance the niche role it is playing to facilitate the trade between GCC and India, benefitting its customers in both the locations,” Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani added.
His Excellency Sheikh Abdul Rahman Bin Mohammad Bin Jabor Al-Thani, the Managing Director of Doha Bank, said the inauguration of banking operations in India was yet another milestone and stands testimony to Doha Bank’s constant endeavor to be recognized as a dynamic, modern and International Bank.
Dr. R. Seetharaman, CEO of Doha Bank, said the huge size of the Indian market, along with its rising per capita income levels and business-friendly policies render it as an essential and strategic location for Doha Bank. He said Kochi, which is the base for huge Non- Resident Indians, is the key market for the bank. He said that the bank through its network of branches in GCC will serve the Non- Resident Indian customers at both the ends 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 HNIs, credit pass portability, Project Finance/advisory services to link GCC markets, ECBs, unique deposit/investment products for Non Resident Indians. “In order to cater to the needs of NRI customers, the Kochi and Mumbai branches will be equipped with the state of the art Finacle Core Banking Computer System which will aid the customers to use the system consisting of online banking, mobile banking, internet banking, SMS banking, etc.,” Dr. Seetharaman said.
As one of Qatar's leading financial services institution, Doha Bank has been consistently registering strong growth during the last decade in terms of asset growth, loan growth, deposit growth and increase in shareholders’ value. Doha Bank established its overseas branches in Kuwait, Dubai (UAE) and Abu Dhabi (UAE) as well as Representative offices in Japan, China, Singapore, Hong Kong, South Korea, Australia, South Africa, Turkey, the United Kingdom, Canada, Germany and Sharjah (UAE).