2 hrs ago
Indian Bank Plans Dubai Office to Expand Overseas Operations
Indian Bank wants to open a small representative office in Dubai.
Its board has approved the plan, but other regulators must still give permission.
The bank says Dubai has many Indians who could use its services.
Indian Bank already has international operations in Singapore, Sri Lanka and GIFT City.
It is also considering offices or branches in Malaysia and Indonesia.
In India, the bank plans to open 100 more branches this year.
It especially wants to grow in central and western India.
The bank also plans to hire about 2,500 people to support growth and replace workers who retire.
As of June 30, 2026, it had 6,003 domestic branches.
Indian Bank’s board approved opening a representative office in Dubai, pending further regulatory approvals.
The bank aims to serve non-resident Indians and leverage Dubai’s large Indian working population.
Indian Bank currently operates internationally through Singapore, Sri Lanka and GIFT City in Gandhinagar.
The bank is also exploring a presence in Malaysia and Indonesia.
Domestically, Indian Bank plans 100 new branches and about 2,500 additional employees this year.
- Who
- Indian Bank, led by Managing Director and Chief Executive Officer Binod Kumar.
- What
- The bank received board approval to open a representative office in Dubai and announced domestic expansion and hiring plans.
- Where
- The proposed office would be in Dubai, while domestic expansion will focus on central and western India.
- When
- The plans were reported on September 6, 2026; the bank intends to add branches and employees during the year.
- Why
- To expand overseas operations, serve the Indian diaspora in West Asia and meet growing business needs.
Key facts
- Dubai plan
- Indian Bank’s board approved a representative office in Dubai; additional regulatory approvals are pending.
- Existing international presence
- The bank has a full-service branch in Singapore, branches in Colombo and Jaffna, Sri Lanka, and an IFSC Banking Unit in GIFT City, Gandhinagar.
- Potential new markets
- Indian Bank is exploring a presence in Malaysia and Indonesia.
- Domestic branches planned
- The bank plans to add 100 branches this year, focusing on central and western India.
- Planned hiring
- About 2,500 personnel, including specialist officers, are expected to be added.
- Current domestic network
- Indian Bank had 6,003 domestic branches as of June 30, 2026.
- Dubai Indian population
- Binod Kumar said Indians account for about 33% of Dubai’s working population.
Quotes
Binod Kumar
Indian Bank managing director and chief executive officer
“We are getting good business from our GIFT City branch, including participation in various syndicated loans...my aim now is to open a rep office in Dubai...We have a good number of non-resident Indians settled in Dubai and about 33 per cent of the working population is Indian”
thehindubusinessline.com
“Last year, we opened 100 branches. This year too, we have similar plans. Just on August 15, which was our foundation day, the bank inaugurated 15 branches across the country”
thehindubusinessline.com
Sources
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