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ICICI Bank inaugurates its representative office in Dubai

  • United Arab Emirates: Thursday, October 02 - 2003 at 10:58
  • PRESS RELEASE

ICICI Bank, India's second largest bank, yesterday inaugurated its representative office in Dubai.

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  • Mr. K.V. Kamath, managing director and CEO - ICICI Bank, Mrs Lalita D. Gupte, joint managing director - ICICI Bank, Louis Scotto, general manager, Emirates Bank International Limited and Chanda Kochhar - Executive Director, ICICI Bank.
    Mr. K.V. Kamath, managing director and CEO - ICICI Bank, Mrs Lalita D. Gupte, joint managing director - ICICI Bank, Louis Scotto, general manager, Emirates Bank International Limited and Chanda Kochhar - Executive Director, ICICI Bank.
The guest of honour at the ribbon cutting ceremony was Anis Al Jallaf, managing director and CEO of Emirates Bank International, while K. V. Kamath, managing director and CEO, and Mrs Lalita Gupte, joint managing director, represented ICICI Bank.

With this milestone, ICICI Bank has further increased its international presence. Recently, the bank inaugurated its Offshore Banking Branch in Singapore and an Offshore Banking unit at SEEPZ, Mumbai. The Bank also has representative offices in New York and London.Furthermore, the Bank is in the process of setting up a subsidiary in Toronto, Canada and a representative office in Shanghai, China.

"The Dubai representative office will provide links for companies in both the home and host countries having business relations in the region and will increase the bank's participation in India's trade transactions with the UAE and Gulf markets," stated Mrs. Gupte.

ICICI Bank has appointed Mr. Nimesh Shah, joint general manager, as the country head for its Dubai operations.
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Notes and media contacts

About ICICI Bank:

ICICI Bank (NYSE:IBN) is India's second largest bank with an asset base of USD 21 billion. ICICI Bank provides a broad spectrum of financial services to individuals and companies. This includes mortgages, car and personal loans, credit and debit cards, corporate and agricultural finance. The Bank services a growing customer base of more than 6 million customers' accounts through a multi-channel access network. This includes about 450 branches and extension counters and about 1700 ATMs, call centers and Internet banking.

For further press queries please contact Satish Kumar at ICICI Bank, Dubai Tel 04- 396 5333

Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand in banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

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