The Hindujas have taken off the veil over their mid-sized Amas Bank in Switzerland by renaming it as "Hinduja Bank", in what its chief executive described as a bold move to expand its activities in trade finance, wealth management and investment banking.

Amas bank was created as a finance company in Geneva in 1978 and gradually expanded its activities in other Swiss cities -- Zurich, Lucerne, and Basle -- through acquisitions.

"Hinduja Bank combines the solid traditions of Swiss banking with excellent links to the growing economies of South Asia and the Middle East," Ivan Schouker, the chief executive, told Business Standard

Just at a time when several western banks are in doldrums due to huge losses suffered in the current global financial crisis, "we felt it is an opportune time to expand our activities in a range of banking activities, especially trade finance," said Ivan Schouker.