Daijiworld Media Network - Chennai
Chennai, Sep 6: Indian Bank has received approval from its board to open a representative office in Dubai as part of its plans to expand its overseas operations and tap the large Indian diaspora in West Asia.
The bank is now seeking the necessary regulatory approvals to establish the representative office, Indian Bank Managing Director and Chief Executive Officer Binod Kumar told reporter.
“We are getting good business from our GIFT City branch, including participation in various syndicated loans... my aim now is to open a rep office in Dubai,” Kumar said.
He noted that a large number of non-resident Indians live in Dubai and that Indians account for about 33 per cent of the emirate's working population.
Indian Bank currently operates a full-service international branch in Singapore and branches in Colombo and Jaffna in Sri Lanka. It also has an IFSC Banking Unit functioning as an offshore or foreign branch at GIFT City in Gandhinagar.
Kumar said the bank was also exploring the possibility of establishing a presence in Malaysia and Indonesia as it looks to further strengthen its international operations.
On the domestic front, Indian Bank plans to open 100 new branches during the current year, with a particular focus on expanding its presence in the central and western parts of India.
The bank also plans to recruit around 2,500 employees, including specialist officers, to meet growing business requirements and replace employees retiring from service.
“Last year, we opened 100 branches. This year too, we have similar plans. Just on August 15, which was our foundation day, the bank inaugurated 15 branches across the country,” Kumar said.
As of June 30, 2026, Indian Bank had 6,003 domestic branches across the country.
The seventh-largest public sector bank strengthened its presence in eastern India and Uttar Pradesh following the amalgamation of Allahabad Bank with Indian Bank in 2020.
“Now, we are trying to increase our presence in the central and western parts of the country,” Kumar added.