Doha Bank exits India branch operations after a decade, scaling back to a representative office.
Doha Bank, a Qatari financial institution, is set to discontinue its branch operations in India, marking the end of a decade-long presence. The bank will shutter its branches in Mumbai and Kochi, transitioning to operate solely through a representative office in the country.
The strategic shift, approved by Doha Bank’s board of directors, comes after the bank initially launched its India operations in June 2014. The move reflects a change in the bank’s operational strategy within the Indian market.
While the bank has not released an official statement explaining the move, the closure of physical branches suggests a potential shift towards a more streamlined, representative-based approach to serving its interests in India. The representative office will likely focus on maintaining relationships and exploring opportunities without the overhead of full-fledged branch operations.
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