The second largest leading Bank of the country – ICICI bank is expanding its banking networking all over the world. The Bank will establish a new branch in China by this year. Bank is already having a representative office in China.
The Managing director of the Bank Mrs. Kochchar stated that they have received the approval from the apex bank to set up the branch in China. They are confident for their banking in the China. On the other side bank will continue expanding its branches in India.
Bank informed that the bank was well-capitalised and hence there is no need to raise fresh funds through Rights Issue. Mrs Kochchar expressed her confidence at general meeting of the bank in Vadodara city and stated that bank will do well and is optimistic for the development and growth of the banking and overall economy.