Indian-based Axis Bank has opened a representative office in Dubai, targeting the large number of non-resident Indians working in the United Arab Emirates, according to CPI Financial. The large number of NRIs working in the Middle East region provides good business opportunities for Indian banks, Dr PJ Nayak, chairman and chief executive for Axis Bank, which used to be called UTI Bank, was quoted as saying. The representative office will be primarily engaged in promoting the bank's retail NRI products and services, as well as supporting transactions between its branches in India and NRIs based the UAE.