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Doha Bank to open more branches in India

Doha Bank of Qatar is planning to open more branches in India and it has sought approval from the Reserve Bank of India for the same. The new branches would be at Hyderabad, in Tamil Nadu, Gujarat, Karnataka and Bengal. It already has branches in Mumbai and Kochi. Dr R. Seetharaman, CEO of the bank, said the bank’s current exposure in India is about $2.3 billion and it expects to increase to $5 billion over the next three years. He said the bank sees lot of business opportunities, with new states such as Telangana and Andhra Pradesh looking at mega investment projects, including construction of the proposed capital of the state, Amaravati. At present, the bank offers corporate loans, which Dr Seetharaman said are at rates at least 2% lower than those offered by Indian banks.

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