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Friday, November 2, 2012

ICICI Bank opens second branch in Hong Kong

India’s largest private sector lender ICICI Bank launched its first high street branch in Hong Kong.

This is the bank's second branch in Hong Kong. The new retail branch will supplement the bank's seven-year-old presence here, the bank said in a statement.

In July 2012, the Hong Kong Monetary Authority had approved the commencement of this branch.

It will provide Hong Kong residents and Non-Resident Indians (NRIs) comprehensive access to the bank through products and services like term deposits, current accounts, remittance services and NRI services, the bank said.

Vijay Chandok, President, International Banking for ICICI Bank, said: “This will act as a gateway for companies in Hong Kong wanting to do business in India and visa-versa.”

In Hong Kong, ICICI Bank was granted a banking licence on October 10, 2005 by the Hong Kong Monetary Authority. The bank commenced business on November 14, 2005.


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