Ras Al Khaimah, Oct 6: H.H. Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, today held talks with M D Mallya, Chairman and Managing Director of Bank of Baroda, an Indian multinational bank, who called on him at the Al Dhait Palace here.

Sheikh Saud welcomed the bank Chairman and the accompanying delegation and lauded the excellent business relations between Bank of Baroda (BoB) and various government entities and private sector firms in Ras Al Khaimah.

Sheikh Saud also appreciated the move by Bank of Baroda to expand operations in the UAE and Ras Al Khaimah in particular. “We are happy that Bank of Baroda is having strong working relationship with the firms in the emirate and we look forward to taking the relationship forward,” he added.

M D Mallya said that the development projects currently underway in Ras Al Khaimah were substantial and added that the bank expects to significantly improve its business in RAK in line with the emirate’s anticipated growth.

“Bank of Baroda has made significant investments in many new projects in Ras Al Khaimah and we look forward to enhancing those partnerships in the future. The bank will also open one new electronic banking service unit (EBSU) in Ras Al Khaimah within 20 days to have additional presence in the emirate,” he added.

He said that the BoB’s UAE operations have witnessed exponential growth over the last few years. “We have tripled our business in the UAE during the last two and a half years and we expect to carry the same growth momentum forward,” Mallya added.

Sheikh Mohammed bin Saud Al Qasimi, Sheikh Jamal bin Saqr bin Sultan Al Qasimi and Ashok K Gupta, Chief Executive (GCC Operations) of Bank of Baroda were present during the meeting.