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Doha Bank plans branches in India

Unveiling its ambitious expansion plans, Qatar's Doha Bank has said it is gearing up to open branches in India, Washington and London.

Steps to execute the expansion plans will be taken after approval from the Qatar Central Bank, the banking regulatory authority in Doha, the bank's board of directors said in its annual financial report.

The report and proposals to amend some key 'articles of association' to help expand its scope of business to cover Islamic banking and bond issuance, were tabled at the annual general meeting (AGM) of the bank's shareholders in Doha.

Earlier, bank board chairman Sheikh Fahad bin Mohammed bin Jabor Al Thani told shareholders that "2005 was an excellent year for Doha Bank as it witnessed many achievements."

The bank's deputy chief executive R Seetharaman was also present.

In its report, the board of directors said that in order to elevate the bank to the "height" of international banks and have it ready to meet aggressive competition, they "have innovated and developed advanced banking services and products, especially in electronic banking".

 

(The Economic Times)

 
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