India-based major private sector lender HDFC Bank announced that it has opened its first abroad full-fledged branch in Bahrain with a robust 25-member staff.

According to the sources, the branch would provide cash management and trade finance solutions to corporate customers and wealth management services for NRIs (Non Resident Indians).

While commenting on the branch, Mr. Harish Engineer, Executive Director of HDFC Bank stated, “Bahrain has always been the financial gateway and the banking hub to the Gulf with a firm regulatory framework and an overall dynamic financial sector.”

According to the bank officials, it was logical for HDFC Bank to use Bahrain as its first stepping stone to enhance its direct worldwide presence by opening its first full-fledged overseas branch here to tap the growth potential in the region.