ICICI to offer corporate banking services in China
(25 July 2005 – Hong Kong) India’s ICICI is targeting the Chinese market with the bank set to open a branch in Hong Kong later this year.
The bank, which is India’s biggest private bank, said it was applying for a license to begin operating in the corporate banking and trade finance markets in Hong Kong.
ICICIC joint managing director Lalita Gupte said the bank saw Hong Kong as a "gateway to the Chinese market".
ICICI has plans to expand overseas and earlier this month announced it would be entering the deposits market in the UK with back office processing being carried out in India.
Last week, the bank struck a deal with Europe’s Fortis to provide wealth management, estate planning and corporate services to Indians working abroad. The alliance makes ICICI the first Indian bank to offer wealth management services outside of India.
ICICIC joint managing director Lalita Gupte said the bank saw Hong Kong as a "gateway to the Chinese market".
ICICI has plans to expand overseas and earlier this month announced it would be entering the deposits market in the UK with back office processing being carried out in India.
Last week, the bank struck a deal with Europe’s Fortis to provide wealth management, estate planning and corporate services to Indians working abroad. The alliance makes ICICI the first Indian bank to offer wealth management services outside of India.
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