In a bid to expand its footprint in China, India’s largest private sector lender ICICI Bank is set to open branch in Shanghai, China’s biggest city and a major global financial hub.
ICICI Bank, which has presence in 17 countries, already has a representative office in China and it has now got the regulatory approvals to open its first branch in China. The representative office in Shanghai was opened in 2003 by ICICI Bank.
The bank has subsidiaries in the UK and Canada, branches in the US, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in the UAE, China, South Africa, Bangladesh, Malaysia and Indonesia. Its UK subsidiary has also established branches in Belgium and Germany.
