ICICI Bank UK Ltd, a wholly owned subsidiary of ICICI Bank Ltd, India's second largest Bank, has enhanced its presence in the United Kingdom by inaugurating branches in Manchester and Southall on Thursday.
With the setting up of these two branches, ICICI Bank UK now has four branches in the UK. ICICI Bank UK's business development within the UK markets will be aided by the ICICI Group's high standing among the Asian community and among Indian corporations and multinationals.
Bhargav Dasgupta, head (international banking group), ICICI Bank, said, "We are delighted to announce the opening of our branches in Manchester and Southall, which historically are important hubs for Asian people in Britain. As a full service bank with strong Indian links, we believe we are in a unique position to become the preferred provider of financial services for the NRI & PIO community in the United Kingdom."
ICICI Bank UK set up its first branch in Knightsbridge, London in November 2003, and its second branch in Leicester in July 2005.
As a fully owned subsidiary, ICICI Bank UK offers local banking products and services such as savings and current accounts, term deposits in British pounds, US dollars and euros, credit facilities including Visa Platinum credit cards, loans against term deposits and a host of corporate banking solutions.
ICICI Bank UK also has a strategic alliance with Lloyds TSB of UK, for offering a host of India linked banking services such as India mortgages, remittances, NRI Savings accounts and other NRI deposit products to NRI customers through Lloyds Bank's branches.