New Delhi, Nov. 3: The Oriental Bank of Commerce is keen to provide banking facilities at the Dubai International Financial Centre.

“The board has approved the plan and the bank has applied to the Reserve Bank for approval,” T.Y. Prabhu, chairman and managing director of Oriental Bank, told The Telegraph.

The bank will approach the regulatory authorities of the UAE for permission to operate in the hub after getting the approval of the RBI.

Last year, the bank had opened a representative office in Dubai, which helped it to get an overseas presence.

Other banks, including the Punjab National Bank and the Bank of Baroda, have branches in Dubai.

Oriental Bank has posted a 46.8 per cent rise in net profit at Rs 397.65 crore for the second quarter against Rs 270.8 crore in the year-ago period.