Mumbai: ICICI Bank has opened its second branch in Hong Kong, making it the first high street branch for the lender in the island city.
The new retail branch in the heart of the city will supplement the bank's seven-year-old presence and will offer products and services like term deposits, current account, remittance services and NRI services, the bank said in a statement on Thursday.
ICICI Bank president for international banking Vijay Chandok said the Hong Kong branches will act as gateways for companies in this region wanting to do business here and domestic companies wanting to expand abroad.
ICICI got its first banking licence in October 2005 from the Hong Kong Monetary Authority and began operations the next month. In July this year, the monetary authority approved the second branch.
Around 28 per cent of the business of the bank came from its international operations, as of the September quarter, when it reported its best ever quarterly numbers logging in over 30 per cent jump in profit.


Latest News  from Business News Desk