One of the most successful private banks of India, HDFC Bank has expanded its banking system by opening an international branch in Bahrain. The new HDFC branch was inaugurated by the governor of Central Bank of Bahrain (CBB), Rasheed Al Maraj at the Bahrain Financial Harbour (BFH) on October 22, 2008. According to Al Maraj, the opening of HDFC branch at Bahrain will strengthen the relation of the country with India.

 

Talking to media the governor of CBB informed that besides HDFC and other Indian banks, another big Indian financial institute is likely to open its branch in Bahrain. The managing director of HDFC bank, Aditya Puri said that at the initial period the bank will offer short-term trade to Indian companies existing in Bahrain. The bank will also offer wealth management services and trade finance solution to its clients. 

 

According to Aditya Puri, the setting of HDFC branch in Bahrain is fully justified from the fact that there has been an increase in bilateral relations between the Gulf nations and India. Report claims that about 290,000 expatriate Indians stay in Bahrain. Besides the managing director feels that Bahrain offers excellent and viable conditions for banking. HDFC Bank has a network of 1,412 branches across 528 cities in India.