Indian Bank Sets Sights on Dubai and Domestic Growth
Chennai, Sep 6 (PTI) – Indian Bank is making strides in its expansion plans by gaining board approval to establish a representative office in Dubai. This move aims to tap into the large Indian community residing in West Asia.
With an existing international branch in Singapore and additional branches in Colombo and Jaffna, the bank is eager to enhance its overseas operations. Binod Kumar, the bank’s Managing Director and CEO, noted the strong business momentum from its branch in GIFT City, Gandhinagar. He highlighted that a significant portion of Dubai’s workforce, approximately 33%, is made up of Indians.
The bank is currently seeking necessary regulatory approvals for the new office in Dubai and is also considering an expansion into Malaysia and Indonesia.
On the home front, Indian Bank plans to open 100 new branches this year, primarily in central and western regions of India. This initiative follows the opening of 100 branches the previous year, including 15 branches launched on its foundation day, August 15.
To support its growth and replace retiring staff, the bank intends to hire around 2,500 new employees, including specialists. As of June 30, 2026, Indian Bank operated 6,003 domestic branches and continues to build on its presence, particularly in areas enhanced by its merger with Allahabad Bank in 2020.
Overall, the bank’s strategy focuses on expanding both internationally and domestically, reflecting its commitment to serving its customers better.
