ICICI first Indian bank to offer financing to TradeCard Clients
10 Mar '06
4 min read
“The alliance with TradeCard enables us to expand our customer base into new markets but also to support and help expedite the uptake of automated trade finance services in India.”
“With its emphasis on leveraging technology for the benefit of its customers, ICICI Bank is the ideal partner in India for us. Together we are improving the way Indian exporters do business,” said Kurt Cavano, chairman and CEO, TradeCard Inc.
“Not only do we help them become more responsive and faster through automation but this initiative will also give them access to a new source of export finance. This is critical for Indian suppliers in the face of increasing global competition.”
ICICI Bank is India's second largest bank and largest private sector bank with over 50 years of financial experience and with assets of USD 47 billion as on December 31, 2005. The Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management.
ICICI Bank is a leading player in the retail banking market and has over 15 million retail customer accounts. The Bank has a network of over 600 branches and extension counters, and 2,070 ATMs.
ICICI Bank Limited set up its international banking group in fiscal 2002 to cater to the cross-border needs of clients and leverage on its domestic banking strengths to offer products internationally. ICICI Bank's international presence spans 12 countries and includes three wholly owned subsidiaries in the United Kingdom, Russia and Canada, offshore banking units in Singapore, Hong Kong and Bahrain, a branch in Sri Lanka and representative offices in the United States, China, United Arab Emirates, Bangladesh and South Africa.
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