Doha Bank woos Indian SMEs with cheap loans
Updated: Jul 11, 2015 01:23:17pm
Kolkata, Jul 11 (KNN) Qatar based Doha Bank is keen to take Indian small and medium enterprises with lower interest rates for loans to expand its operations in in the country.
In an interactive session at the Bengal Chamber of Commerce here on Friday, Chief Executive Officer, Doha Bank, R Seetharaman said that they want the Indian SMEs to come to the Gulf state to set up their business.
He added that 87 per cent of the bank’s lending is guaranteed by the Qatar government and also it is an ‘A+’ rated bank. It charges interest rate between six and nine per cent for the SMEs.
The bank has already been made with a pact signed with the SME sector of Maharashtra last year, which is helping small businesses of the state to reach out to the booming Gulf economies.
Seetharaman said that Tamil Nadu, Gujarat, Kerala and West Bengal were states under the bank’s scanner.
The bank will set up a full-fledged subsidiary within a few years, and the branch expansion will follow. Doha Bank, which has global footprints in 12 countries through a mix of full-fledged branches and representative offices, “wants to enhance operations in India,” he Seetharaman.
He said that one of the Mumbai branches would be relocated to some other city, adding that West Bengal is in its radar because of the substantial presence of SMEs in the state. The bank would also do due diligence for opening a branch in the state. (KNN Bureau)
In an interactive session at the Bengal Chamber of Commerce here on Friday, Chief Executive Officer, Doha Bank, R Seetharaman said that they want the Indian SMEs to come to the Gulf state to set up their business.
He added that 87 per cent of the bank’s lending is guaranteed by the Qatar government and also it is an ‘A+’ rated bank. It charges interest rate between six and nine per cent for the SMEs.
The bank has already been made with a pact signed with the SME sector of Maharashtra last year, which is helping small businesses of the state to reach out to the booming Gulf economies.
Seetharaman said that Tamil Nadu, Gujarat, Kerala and West Bengal were states under the bank’s scanner.
The bank will set up a full-fledged subsidiary within a few years, and the branch expansion will follow. Doha Bank, which has global footprints in 12 countries through a mix of full-fledged branches and representative offices, “wants to enhance operations in India,” he Seetharaman.
He said that one of the Mumbai branches would be relocated to some other city, adding that West Bengal is in its radar because of the substantial presence of SMEs in the state. The bank would also do due diligence for opening a branch in the state. (KNN Bureau)
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