Qatar's Doha Bank has announced its decision to exit India's branch operations after more than a decade of presence. According to reports from The Economic Times, the bank's board of directors approved a strategic shift from branch operations to a representative office model. The decision was announced at the bank's board meeting held at its Doha headquarters and communicated through the local stock exchange. As per the bank's official statement, the board of directors approved to shift the bank's business strategy in India from branches to a representative office, and to proceed with the gradual exit of the operations of the bank's branches in India, subject to obtaining the necessary approvals from the relevant regulatory authorities.
The bank will close its Mumbai and Kochi branches as part of the strategic exit. As reported by The Economic Times, these were the bank's only two operational branches in India. The closure represents the end of a 12-year chapter in India operations, with the bank having launched its India operations in June 2014 with its first branch in Mumbai, followed by the Kochi branch. Following the closure, Doha Bank will operate solely through a representative office in India, focusing on maintaining relationships and handling specific international deals rather than growing retail or corporate banking operations.
This strategic pullback reflects broader challenges facing foreign banks in India's retail market. According to market analysis, the Indian retail market, despite its size, brought more operational and profit challenges than expected for Doha Bank. The bank faces intense competition from strong domestic banks, difficulty and expense of meeting India's regulations, and changing global strategies. This trend is evident across the industry, with several global banks including Citibank and Royal Bank of Scotland previously reducing or exiting their retail operations in India. The Reserve Bank of India (RBI) has focused more on strict compliance, local setup, and oversight, which can be a bigger challenge for foreign banks with smaller operations than for large domestic banks.
Despite the branch closure, Doha Bank had previously explored expanding its India presence. As reported by The Economic Times in 2016, the bank had plans of applying for permission to have a subsidiary in India to take advantage of the growing economy and tap the potential for remittances between the Gulf state and India. However, the current strategic shift reflects the bank's decision to focus on its core operations while maintaining a presence in the Indian market through a representative office structure.
Despite the India exit, Doha Bank has demonstrated strong financial performance in its home market. For the full year 2025, the bank reported a net profit of QAR 920 million, representing an 8.0% increase year-on-year. Its total assets stood at QAR 120.2 billion as of December 31, 2025, with net loans and advances reaching QAR 67.7 billion. The bank maintains robust capital levels with a Common Equity Tier 1 ratio of 13.16% and a Total Capital Adequacy Ratio of 19.05%. As of March 2026, Doha Bank's market value was approximately QAR 10.05 billion, with shares trading around QAR 3.30.
