ICICI Bank set to open a branch in New York

ICICI Bank has announced that they are all set to open a branch in New York.

The bank said in a statement: “We already have got approval from the US regulator; it will come up in few weeks.”

This new branch would deal in wholesale banking business, including trade financing and factoring services to US-based subsidiaries of Indian firms.

ICICI said that they have received the required permissions from the US Federal Reserve for setting up this new branch. They already have a representative office in the city.

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