ICICI Bank expands presence in Singapore

The largest private sector lender in the country ICICI Bank has opened its second retail branch in Singapore; the bank is further looking on increasing its presence in the corporate, commercial and wealth management businesses in Singapore.

The Chief Executive of the bank’s branches in Singapore, Mr. B.K Iyer said "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."

He also 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."

ICICI Bank hikes lending and deposit rates

The largest private sector bank in the country, ICICI Bank has announced a hike in the lending and deposit rates. The bank has raised the deposit rates in the range of 25 to 50 basis points.

The bank also raised the base rate by 50 basis points to 8.75 percent. another close competitor of the lender, HDFC bank has also announced a hike in the deposit rates.

Various other leading banks in the country have already raised their key interest rates because of the hike made by the Central bank in the key lending rates.

It is the seventh time since mid march, last year that central bank has hiked the interest rates.

ICICI bank ties up with Aircel

The largest private sector bank in the country, ICICI Bank has signed an agreement with telecom company Aircel. The bank has appointed the telecom company as a business correspondent that will offer various products of the bank to the population staying in the far flung areas of the country.

The bank will use the customer base of the company to distribute various products to the unbanked areas of the country. ICICI Bank has also tied up with another leading telecom company, Vodafone for similar purpose last month.

This is an effort from the bank to provide basic banking facilities to the unbaked areas of the country, under the Financial Inclusion Plan.

ICICI Bank up-grades Jamshedpur branch

The largest private sector bank of the country ICICI Bank has up-graded the branch located in Natraj Manison , Bistupur in Jamshedpur to a mega commercial branch.

The up-graded branch is fully equipped to offer the customers with entire gamut of banking facility. The branch is primarily meant to cater the financial needs of large corporate houses, small and medium enterprises and government undertakings.

The branch will also serve routine services to the customers like operating accounts and tax payment solutions etc.

ICICI Bank coming up with 1st ever landmark building

The largest private sector lender of the country, ICICI Bank is all set to open its landmark office in Hyderabad. The office also happens to be the largest office in the country.

The office which is the regional hub of the bank will be the first of its kind in Asia and probably in the global forefront also.

The building weighing 5.5 lakh tonne will supercede the famous twin towers of New York which weighed 5 lakh tonne before getting destoyed in 9/11 attack.

The floor area will be comparable to the famous Eden Gardens of Kolkata. Also will it have the largest escalator of the country, 14.4 mts long.

It can hold 22,000 employees at one time and will have parking alley capable of holding 4,500 two wheelers and 1,500 four wheelers and 11 buses.

ICICI Bank will open full-fledged branch in Mauritius

ICICI Bank, India’s second-largest lender is expanding its branch network globally. Bank is planning to open a full-fledged branch in Mauritius.

According to senior official of the Finance Ministry, bank is planning to open an office in the country. The official said, yet no decision has been taken in this regard, it is at very preliminary stages.

At present in Mauritius bank has a wholly-owned asset management subsidiary called ICICI International Ltd.

Bank also has a jointly-controlled asset management firm called TCW/ICICI Investment Partners LLC, in this bank holds 50percent stake.

ICICI Bank branches are operating in 18 countries all over the world currently bank has a network of 2,044 branches and about 5,546 ATMs in India.

Bank is having subsidiaries in the United Kingdom, Russia and Canada and branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre.

Apart from this, bank representative offices are operating in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia.

Moreover the UK subsidiary has set up branches in Beligum and Germany.

ICICI Bank launches Hindi version of its website

ICICI Bank has launched Hindi version of its website. After launching the website in Jaipur, bank chief executive and managing director, Chanda Kochhar, said, “We have launched the Hindi version of the personal banking pages on our website to offer our customers the power to use technology for convenient banking.”

In August after the Reserve Bank of India approval merger of Bank of Rajasthan (BoR) with ICICI Bank has completed therefore ICICI added 458 branches and over 20-lakh customers, the launch of Hindi website will be of great help to many bank customers.

According to ICICI Bank release its English website is among the 10 most visited banking and financial website of the world.

The Hindi website will also provide the information of entire range of banking services like money transfer, bill payment, open fixed deposits and placing requests for different types of services, it added.