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Doha Bank may set up a subsidiary in India

Doha Bank is planning to set up a subsidiary in India, Dr R. Seetharaman, CEO, said. The long-term view is to set up a full scale subsidiary for the Indian operations, which is needed to enter more cities, he said. At present, Doha Bank has three branches in India – two in Mumbai and one in Kochi. Seetharaman said that one of the Mumbai branches would be relocated to some other city within the country, adding that West Bengal is in its radar because of the substantial presence of SMEs in the state. He said that the SMEs in India could take advantage of availing cheap credit from Doha Bank as 87% of its lending is guaranteed by the Qatar government and also it is an ‘A+’ rated bank. The bank’s exposure in India is $2 billion and is expected to touch $3 billion in the next three years, he added.

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