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ICICI Bank opens its first branch in China
Prime Minister of India Narendra Modi, inaugurated the branch in Shanghai in the presence of Chanda Kochhar, MD & CEO, ICICI Bank.
Senior Chinese and Indian government officials and business representatives were also present at the occasion.
ICICI Bank's new branch in China marks a significant milestone for the Bank's international operations.
In March 2003, the Bank established a representative office in Shanghai to develop strong relationships with Chinese banks and corporates for their India linked banking needs. ICICI Bank has now upgraded its representative office in Shanghai to a branch keeping in mind the rising trade volumes between India and China.
With this branch, the Bank aims to provide greater support to Chinese and Indian corporates in their cross-border business interests.
Speaking at the inauguration, Chanda Kochhar, MD & CEO, ICICI Bank said, "We are happy to announce the opening of our branch in China. Our branch in Shanghai will allow us to play a greater role in the growing trade and investment opportunity between India and China. We foresee a heightened amount of bilateral activity taking place between the two countries in the near future. With the opening of this branch, ICICI Bank is strategically poised to take advantage of the increased opportunities."
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