ICICI Bank : inaugurates representative office in Nepal

Press Release	December 3, 2020
For Immediate Release

ICICI Bank inaugurates representative office in Nepal

• First Indian private sector bank in India to set-up presence in the country

Mumbai: ICICI Bank today inaugurated its representative office at Thapathali, the prominent business district in Kathmandu, marking the foray of an Indian private sector bank in Nepal. The representative office will closely work with the domestic banks in Nepal to facilitate investment, trade, payments and treasury business between the two countries.

The office was inaugurated through a digital event today in the presence of Mr. Maha Prasad Adhikari, Hon. Governor of Nepal Rastra Bank; H.E. Mr. Vinay Mohan Kwatra, Indian Ambassador to Nepal; H.E. Mr. Nilamber Acharya, Ambassador Extraordinary and Plenipotentiary, Embassy of Nepal and Mr. Sandeep Bakhshi, MD & CEO, ICICI Bank.

With this foray, ICICI Bank has expanded its global footprint to 15 countries including India.

Speaking on the occasion, Mr. Sriram H. Iyer, Head - International Banking Group, ICICI Bank, said, "India and Nepal have significant trade and investment links between them. We believe that ICICI Bank's on-ground presence through the new representative office coupled with its strong business partnerships with banks in Nepal, will help us further our participation in the economic flows between the two countries."

Ms. Ranju Sigtia, Head - International Financial Institution Group, ICICI Bank, said, "The representative office is a reaffirmation of our commitment towards the region and our belief in the long-term growth potential of the Indo-Nepal economic corridor. We look forward to working with our partners in Nepal for deepening connectivity for our customers doing business between the two countries."

ICICI Bank has appointed Mr. Ranjan Kumar Thapa as the Chief Representative for its Nepal operations.

Representative office address:

ICICI Bank Limited,

Nepal Representative Office,

606, 6th Floor, Central Business Park,

Thapathali, Kathmandu, Nepal

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About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank's consolidated total assets stood at ₹14,76,014 crore at September 30, 2020. ICICI Bank's subsidiaries include India's leading private sector insurance, asset management and securities brokerage companies, and among the country's largest private equity firms. It is present across 15 countries, including India.

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