ICICI Bank’s
first branch in China was inaugurated in
Shanghai, a major global financial hub.
It was inaugurated by Prime Minister
Narendra Modi in the presence of
ICICI Bank’s MD and CEO Chanda Kochhar.
The new branch will begin its operation with 17 banking professionals handling
different functions including
- Finance,
- operations,
- corporate banking
- treasury.
Apart from it, this branch will also
play important role in the growing trade and investment opportunity between
India and China. It should be noted that ICICI Bank’s Shanghai Branch had
received the formal regulatory approval in March 2015 to commence operations.
Currently ICICI Bank is India’s biggest private sector lender with a
total consolidated asset base of US $
132 billion and has presence in 17
countries. Earlier in 2003, ICICI Bank had opened a representative office
in China.
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