ICICI Bank opens second branch in Singapore

India's largest private lender ICICI Bank today said it has opened its second retail branch in Singapore. The branch would cater to the banking needs of the customers, including products or services such as money transfers to India, ICICI Bank said.

India's largest private lender ICICI Bank today said it has opened its second retail branch in Singapore. The branch would cater to the banking needs of the customers, including products or services such as money transfers to India, ICICI Bank said.

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"The opening of our second retail branch reflects our commitment to growing our footprint in the retail banking space in Singapore, which is a major hub in ICICI Bank’s international network," Chief Executive of ICICI Bank’s Singapore Branches, B K Iyer, said.

"The new services are part of ICICI Bank’s efforts to grow its product suite to address customers’ specific financial needs, as well as to improve their banking experience," Iyer said. He said ICICI Bank would further focus on increasing its presence in the corporate, commercial and wealth management businesses in Singapore, by capitalising on the strong trade and investment flows with India.

ICICI Bank opened its first branch in Singapore in 2003, and launched its first retail branch in Singapore in September 2010 after being granted the Full Bank Licence with Qualifying Full Banking (QFB) privileges by the Monetary Authority of Singapore.