Doha Bank officials recently held the soft launching of the bank’s branch in Chennai after receiving Reserve Bank of India (RBI) approval to relocate one of its branches in Mumbai.
This is Doha Bank’s third city in India after its successful establishment of branches in Mumbai and Kochi, the bank said in a statement.
Doha Bank, through its three branches, provides corporate banking, retail banking, SME, treasury, trade finance, and foreign exchange services. Their corporate and SME product offerings include term loans, working capital (INR as well as in permitted foreign currencies), trade finance products like LCs, bank guarantees (bid bonds, advance payment, and performance guarantees), buyers’ and suppliers credit, as well as treasury products/hedging solutions like spot/forward contracts/options/interest and currency swaps.
On the retail and NRI side, the bank offers the entire range of liability products like savings account (NRE, NRO, and ordinary), current account, term deposits (short term and long term), FCNR (B) deposits, exchange earners foreign currency account (EEFC), and PIS accounts with Internet banking facility.
In addition for NRIs, through their collaborations, they offer home loans, wealth management, and estate and succession planning services.
The bank provides technology-driven, customer-centric solutions to include Internet banking, mobile banking, App-based solutions, instant e-Remittances solutions 24/7 from its Gulf branches to its branches in India though the RTGS, NEFT platform to any of the 85,000 bank branches in India, and offers ATM services connectivity through an extended network in India.
During the event, Doha Bank CEO Dr R Seetharaman said: “Qatar has emerged strong and has brought various reforms to transform itself into a self-reliant economy.
Qatar’s reserves are more than twice of its GDP and in terms of financial stability Qatar is strong, stable, and functional. “Qatar lending growth in 2017 was close to 8% and deposit growth was more than 13%. Government, real estate, and services sector were the contributors to lending growth.
In terms of food security, Qatar now has many local companies that are supporting the country and it can develop these businesses further and boost its food production for both local and international consumption.”
Seetharaman delivers a speech during the bank’s soft launch of its Chennai branch.
