Doha Bank, which is the second largest bank in Qatar, will open its first branch in India in May. This is the third bank from West Asia to have a full branch in the country after Bank of Bahrain and Kuwait and Abu Dhabi Bank. Doha Bank expects to have a turnover of $5 billion at the end of the third year of its operations in India. The bank already runs a brokerage – Doha Brokerage – with 41% stake, the rest held by brokers in Kochi. The bank intends to have a focus on corporate banking. The bank is also not averse to setting up a wholly-owned subsidiary in India, according to a senior official of the bank. The branch will be located in south Mumbai.
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