Kotak Mahindra Bank launches Dubai office

India's Kotak Mahindra Bank would soon come up with its representative office in Abu Dhabi, its Executive Vice-Chairman and Managing Director Uday Kotak told Emirates Business.

The group has major foreign expansion plans to increase the share of overseas business to almost 20 per cent within the next three to five years and UAE will have a major share in that.

The bank opened a representative office in Dubai and will also set up a subsidiary of Kotak Securities called Kotak Financial Services.

"We are looking at expanding out presence in the region and will be able to provide comprehensive services to our clients through our offices here," he said.

"I have great confidence in the growth of Middle East. We believe the worst of the crisis is behind us already."

He said India has long been an attractive market, "even more so during the recent global turmoil, and we are delighted that investors from the Middle East can now access information on various investment opportunities available in India through our office".

The group has a distribution network of branches, franchisees, representative offices and satellite offices across India, New York, London, San Francisco, Mauritius, Bahrain and Singapore. "We aim to significantly increase the share of our overseas business. This region will form a major part of it," Kotak said.

Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.

Follow Emirates 24|7 on Google News.