ICICI Bank Of India Establishes Representative Office In Nepal
December 3, 2020 | Investopaper
ICICI Bank Limited inaugurated its representative office at Central Business Park in Thapathali, Kathmandu on Thursday. ICICI Bank is the first private sector bank in India to set up a representative office in Nepal.
The Representative Office was inaugurated by Governor Maha Prasad Adhikari of Nepal Rastra Bank, Nilambar Acharya, Ambassador of Nepal to India, Vinay Mohan Quatra, Ambassador of India to Nepal, and Sandeep Baksi, Managing Director and CEO of ICICI Bank.
Through the Representative Office, the Bank will work closely with Nepal’s banks and facilitate investment, trade, payments and treasury trade between the two countries. With the establishment of branch representative offices in Nepal, the bank’s international branch representative offices have reached 15 different countries, according to a press release issued by the bank.
Speaking at the inaugural function, Shri Ram H Ayre, Head of International Banking Group of the Bank, said that Nepal and India have important trade and investment ties and the establishment of a representative office with strong cooperation with Nepali banks would help in expanding economic activities between the two countries.
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