We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Wed 4 Apr 2007 10:04 PM

Font Size

- Aa +

Indians get new UAE bank service

ADCB has linked up with UTI Bank to bring easy banking to non-resident Indians.

Abu Dhabi Commercial Bank (ADCB) has linked up with India's UTI Bank to offer a new service to non-resident Indians (NRIs), according to a WAM report today.

The service - expected to be launched shortly - is set to cater to NRIs who have specific UAE and Indian banking needs. Its main feature is that it will allow instant online rupee money transfers from an ADCB dirham account to a UTI Bank account.

Abu Dhabi Commercial Bank CEO Eirvin Knox recently signed the agreement with Vinod George, president of International Banking at UTI Bank, India's first new generation private sector bank.

ADCB last month said it was considering acquisitions in Egypt and India to compete internationally and to 'be bigger', according to a Gulf Times report. Saeed al-Hajeri, the bank's chairman said that lending to India may exceed AED1 billion.

The bank also gave details on Sunday of its $1.5 billion five-year loan, the biggest syndicated loan for a Middle Eastern bank to date.

Arabian Business: why we're going behind a paywall

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.