Profit

Federal Bank Gets Permission to Open Representative Office in Dubai

 Share
EMAIL
PRINT
COMMENTS
Mumbai: 

Kochi-based Federal Bank on Thursday said it has received approval from the Reserve Bank of India (RBI) to open a representative office in Dubai - its second office in the Emirate.

"Federal Bank has been granted approval by the Reserve Bank to open a representative office in Dubai, UAE," the private sector lender said in a statement.

The representative office will function as a source of information to NRIs interested in foreign investments in the country, apart from serving the diaspora.

The bank already has a representative office in Abu Dhabi, making the Dubai office its second overseas office.

Federal Bank has a branch network of 1,174 and 1,371 ATMs spread across the country.

Its balance-sheet stood at Rs 1.03 lakh crore as of end March 2014 and its net profit stood at Rs 839 crore for the full fiscal year.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top