Mumbai/Calcutta, Oct. 1: ICICI Bank today inaugurated its representative office in Dubai.
The country’s second largest bank is also setting up a subsidiary in Toronto and a representative office in Shanghai as part of its plans to increase its international presence, an ICICI Bank release said here today.
The Dubai office will provide links for companies in both the home and host countries and increase the bank’s participation in India’s trade transactions with the UAE and the Gulf, joint managing director Lalita Gupte said.
The bank has appointed joint general manager Nimesh Shah as the country head for its Dubai operations.
This is the third representative office to be opened, the others being in London and Singapore.
According to Gupte, the bank wants to provide services to the large number of Indians in these countries.
“We will also provide end-to-end solutions to the bank’s Indian corporate clients who have businesses in these countries. This will enable the bank to increase its participation in the country’s trade and forex transactions and also expand its client base,” Gupte said.