New Delhi, Nov 10 (KNN) In an attempt to enter the Indian credit market, the Middle Eastern bank Emirates NBD announced the launch of its operation in the country. The key services announced by the financial institution include lending to the Small and Medium Enterprises (SMEs) of the country.

The bank in a press statement informed that the institution aims to enter the country with an investment up to USD 100 million through operations.

For now the bank will function through its first branch located in Mumbai, this off-shore branch of the bank is the fifth such operating outside the middle-eastern region.

Other services to be introduced by the banks Is to include institutional clients, trade finance, and treasury services.  The bank would also offer expertise in bilateral and syndicated loans in addition to supporting NRI (non-resident Indian) customers looking for cross-border wealth management solutions.

Shayne Nelson, Group CEO of Emirates NBD in a press statement highlighted the ties India and UAE share historically and said that the bank will add a feather to the ongoing relation between the two nations.

At present the bank operates in the UAE, Egypt, the Kingdom of Saudi Arabia, Singapore and the United Kingdom. (KNN/DA)