ICICI Bank, India's largest private sector bank, has once again taken giant step to boom in the banking sector.
The bank has opened its first branch in the United States at posh midtown New York with the view to provide services to US employees of large Indian companies like Infosys and Tata Consultancy Services there.
Mr. K V Kamath Managing Director and CEO of ICICI bank said, “New York has the deepest pool of capital, and by operating here, we will grow our business.”
In order to capture a share in the German market for online and telephone banking, ICICI Bank UK, a wholly-owned subsidiary of ICICI Bank has opened a branch in the financial centre of Frankfurt.
Chief Executive Kundapur Vaman Kamath said, “Germany, as Europe's largest economy, is an important step in the international expansion strategy of ICICI Bank.”
The new branch, member of the Association of German Banks, will concentrate on serving corporate business groups with substantial Germany-India relationships.