The largest private sector lender of the country, ICICI Bank is expanding its offshore presence. Recently the bank launched its second retail branch in Singapore.
With the opening up of this branch, the bank aims to meet the various products and services needs of customers along with facilitating fund transfer to India, said the bank.
The first branch of the bank in Singapore was set up in the year 2003 and the first retail branch in 2010.
"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, Mr 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," Mr Iyer said.
According to him, the future expansion plans of the bank in Singapore include venturing into corporate, commercial as well as wealth management domains.