Duncan Lawrie Private Banking, the UK-based bank, is opening its doors to high net worth clients from India in a bid to tap the growing interest of the wealthy class in overseas markets, media reports said.

In a briefing with local reporters in India, Matthew Parden, managing director of Duncan Lawrie Private Banking, said that the firm had obtained its licence to operate a private banking business in the country in 2009. It finally opened its representative branch in Kolkata in 2010. When the Reserve Bank of India launched the Liberalised Remittance Scheme, more Indians were able to invest as much as $200,000 per year in markets abroad.

The company reportedly said it is particularly interested in investment diversification outside of India, which will include international banking, cross-border, multi-currency and tax effective solutions.

"At this point, the US dollar offers an attractive alternative for Indian investors given the improving economic situation and more healthy housing market. We are seeing that wealth protection... is the top priority of investors," Parden was quoted as saying.

The firm intends to start with a focused client range and will initially cater to high net worth clients in India with at least $3 billion in investable assets.