ICICI Bank inaugurates Singapore branch

Lender seeks to upgrade profile under the “qualified full banking” privileges from Monetary Authority of Singapore.

ICICI Bank on Thursday opened a retail branch in Singapore, with India's High Commissioner T. C. A. Raghavan symbolically signing the first account.

With this, the bank sought to raise its profile under the “Qualified full banking” (QFB) privileges obtained from the Monetary Authority of Singapore in April this year. State Bank of India is the only other Indian banking institution to have been granted such a QFB licence in the City-State. Several other banks from India still operate here on terms that do not equal the wide spectrum of privileges of a QFB licence.

Dr. Raghavan said Thursday's event did in a sense “animate the evolution of the Comprehensive Economic Cooperation Agreement” between India and Singapore. He saw a role for the banking sector in meeting the funding requirements of India's growing infrastructure sector, variously estimated in the range of $500 billion to $1.5 trillion in the next seven-to-eight years.

View the full story in The Hindu.

Follow the link for more news on

Also Read

Krungthai Bank temporarily closes 4 branches due to floods

Bank Negara Malaysia releases policy document on claims settlement practices

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit