Doha Bank, Qatar's third largest commercial bank, got regulatory approval and licence from the Reserve Bank of India to start banking operations in India , the lender said in a bourse statement. The bank's first branch will be in Mumbai? and it will will provide full-scale banking services, including wholesale banking, retail banking, treasury and trade finance services to customers in India . Doha Bank is the first Qatari bank to obtain a licence to operate in India . Doha Bank plans to expand to Hong Kong , Saudi Arabia and India seeking to nearly double its profits from international operations by 2015. Qatar Investment Authority owns 16.67% of Doha Bank which is rated A- by S&P, A2 by Moody's and A by Fitch Doha Bank had QAR 63bn worth of assets at end-September, up 19%y/y. Its net profit rose 2.4% y/y to QAR 329mn in Q3 2013.
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