Public Sector lender Bank of Baroda has informed that it has signed a memorandum of understanding (MoU) with Dubai-based real estate company Dubai Properties for financing buyers of the latter’s products in the United Arab Emirates (UAE).

Bank of Baroda is a leading Indian bank with an extensive network of over 2,800 branches in India and 71 overseas offices in 25 countries.

BoB is the only Indian bank offering full-fledged banking services in the UAE. The bank has six branches, in Dubai, Deira, Sharjah, Abu Dhabi, Al Ain and Ras Al Khaimah and an electronic banking service unit at Jebel Ali near Dubai.

In Oman, the bank has three branches. In Bahrain the bank operates one branch.

The Bank also has plans to have its presence in all Gulf Corporation Council (GCC) countries.