Axis Bank opens representative office in Dubai

UAE. Indian lender Axis Bank has opened its representative office at Dubai and it will be engaged primarily in promoting the bank's retail NRI products and services. It will also provide support in facilitating transactions between branches of the bank in India and NRIs based in Dubai, the bank said in a press release on Monday.

"This further extends our presence in international markets, as a response to the growing globalisation of the Indian economy," said the Axis Bank Chairman and CEO P J Nayak.

The bank has established its presence in Singapore, Hong Kong, Dubai and Shanghai apart from concluding strategic alliances with banks and exchange houses in the GCC region, the release said. The branches in Singapore, Hong Kong and DIFC in Dubai provide platforms for offering corporate credit and trade finance solutions in the financial hubs across Asia and enable the bank to partner with Indian corporates foraying into international markets.

The new representative office in Dubai, in conjunction with the bank's alliance partners, will enable access to the large NRI population in the UAE, the release said.

Axis Bank has a network of 685 branches and 2,798 ATMs spread across 408 of India's cities and towns and its ATM network is the third largest in the country.