Kotak Mahindra Bank Moves Dubai Representative Office to New Sheikh Zayed Road Premises

The opening was attended by Hadi Badri, chief executive of Dubai Economic Development Corporation, and Ashok Vaswani, managing director and chief executive of Kotak Mahindra Bank, according to Al Bayan.

The bank is betting on a shift in what Indians living in the UAE want from their banks. Gautami Gavankar, who heads Kotak's private banking for expatriates and non-resident Indians, said the community's needs have moved beyond traditional remittances, as individuals' businesses, investments and family interests are increasingly spread across several markets. That, she said, raises demand for banking services that can handle cross-border activity.

Badri said the group's growing presence reflected the strength of Dubai's business environment and the depth of economic ties between the UAE and India, and tied it to the goals of the Dubai Economic Agenda, D33.

The move comes with bilateral trade at a record. Trade between the two countries reached $101.25 billion in India's 2025-26 financial year, and both governments have committed to doubling it to $200 billion by 2032. Cumulative UAE foreign direct investment in India stood at $25.59 billion as of March 2026, according to the report.

Kotak's presence in the UAE dates to July 1994. Its Dubai representative office, licensed by the Central Bank of the UAE, was set up in January 2009. The group also operates a Kotak Mahindra Bank branch in the Dubai International Financial Centre, along with Kotak Mahindra (UK) Limited and a Dubai branch of Kotak Mahindra International.

A representative office in the UAE can market and liaise on behalf of its parent but cannot take deposits or book loans locally, so the new premises serve mainly as a base for client relationships, with regulated business conducted through the DIFC branch and the bank in India.