Mumbai, Jan. 17: ICICI Bank has received regulatory approval for establishing a representative office in South Africa.

Its board has also approved the establishment of representative offices in Indonesia, Malaysia, Thailand and Kenya, subject to clearance from the Reserve Bank of India (RBI) and regulators in these countries. The bank had opened a representative office in Bangladesh in August last year and an offshore branch in Bahrain in October.

Its subsidiary, ICICI Lombard General Insurance Company, has achieved a net profit of Rs 30 crore in the nine-month period against Rs 16 crore last year.