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Doha Bank to open India branch

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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