HDFC Bank has opened a branch in Dubai International Financial Centre (DIFC) to provide treasury and trade finance services to non-resident Indians (NRIs) based in the UAE.

The new branch, the bank said in a statement, will offer advisory services to NRIs regarding treasury products, trade finance, loans and other related services. “The bank’s Bahrain and Hong Kong branches offer corporate, trade finance, loans and deposits to both corporates and ultra-high net worth individuals,” it said.

The bank will continue to operate the existing two representative offices in the UAE, located in Dubai and Abu Dhabi, the bank said in a statement.

The representative offices in UAE will continue to be engaged in the facilitation of services for NRIs regarding their accounts held with branches in India. HDFC Bank also partners with exchange houses across Gulf Co-operation Council (GCC) countries for NRI remittances.

“The UAE, and DIFC in particular, has emerged as a major financial centre and the launch of this branch reflects our commitment to the Indian community in the region. We will continue to expand our off-shore operations to meet the banking requirements of our valued customers,” says Abhay Aima, group head, equities, private banking, third party products, NRI and international consumer business, HDFC Bank.

Ashish Parthasarthy, group head, treasury, HDFC Bank, says: “The bank is offering a wide range of products for corporates/SMEs through its Bahrain and Hong Kong branches,” which are the only other branches outside India. He adds: “With the setting up of DIFC branch the distribution of such products to Gulf clients will be easier.”