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HDFC Opens Its First Branch in Singapore to Broaden Financial Services Expansion.

Banking & Finance | Dated: 05 Nov 2024

HDFC Bank Limited has inaugurated its first branch in Singapore to offer banking services in the country. The bank has been granted a wholesale banking license by the Monetary Authority of Singapore (MAS), effective from 15th October 2024.

🎯 Key Highlights:

  • - The branch was inaugurated by Rakesh Singh, Group Head of International Banking, Investment Banking, Private Banking, Digital Ecosystems, and Banking as a Service (BaaS) at HDFC Bank, along with Gaurav Khandelwal, Chief Executive Officer (CEO) of HDFC Bank, Singapore.

💡 Other Important Facts:

  • (i) The new branch will provide a wide array of financial products and services to residents of Singapore.
  • (ii) HDFC Bank’s international operations now include five branches: one each in Hong Kong, Bahrain, the United Arab Emirates (UAE), Singapore, and an IFSC Banking Unit (IBU) in Gujarat International Finance Tec City (GIFT City), India.

📚 Test Your Knowledge:

Which bank has opened its first branch recently in Singapore to broaden its financial services expansion?

Correct Answer: HDFC Bank

🚀 Quick Recap:

About HDFC Bank

  • CEO: Sashidhar Jagdishan
  • Headquarter : Mumbai