By IANS
London : ICICI, India’s largest private sector bank Tuesday expanded its operations further by opening its seventh branch in Britain in Coventry, a town in the east Midlands with a large minority of Indian origin.
The opening of the branch hosted by the mank’s UK managing director and chief executive Suvek Nambiar and Deepak Varghese, head of retail banking.
Varghese said at the opening: “Coventry is synonymous with entrepreneurship and business. Our business banking services leverage our huge network in India to the benefits of businesses here.
“As a result of being India’s largest private sector bank, we are able to ensure the success of the varied efforts of Coventry’s vibrant business community who are trying to tap the skills and potential of India.”
Reports from Coventry said that Varghese also highlighted the bank’s credentials in money transfer services, citing the importance of Coventry’s cultural diversity and the links its ethnic residents keep with members of their families in India.
He said: “To ensure these links flourish, our money transfer service is the most competitive that will be found in Coventry. As a result of our commitment to offer groundbreaking competitive services, we enjoy an approximate 30 per cent market share in the India-to-UK money transfer corridor.”
Nambiar said: “We are delighted to have opened a branch in Coventry. Through our investment of capital, resources and skills, we aim to offer the residents of Coventry and surrounding areas the opportunity to share in the boom that India is currently experiencing.”