ICICI Bank Ltd on Wednesday opened its first overseas offshore branch in Singapore. This branch would leverage the significant strengths of ICICI Bank and provide India's second largest bank a strategic presence in the Asia Pacific region, ICICI Bank joint managing director Lalita Gupte said in a release.
It would also provide access to international markets and encompass business activities including syndications, trade finance, treasury operations and private banking, she said adding, R Suvek Nambiar would head this branch.
Initially, this branch would provide end-to-end solutions to ICICI Bank's Indian clients who have businesses in Asia- Pacific region. Going forward, the branch would assist the bank in diversifying its assets and liabilities base and provide a platform to launch private banking products, she said.