ICICI Bank opens branch in St Petersburg

MUMBAI: Private sector lender, ICICI Bank, now has a presence in St Petersburg in the Russian Federation with ICICI Bank Eurasia LLC inaugurating its branch in the city.
    
The branch with its technological expertise and door-step service will provide a wide range of banking and financial services in St Petersburg, the bank said here on Wednesday.
    
ICICI Bank had acquired InvestitsionnoKreditny Bank (IKB) in 2005 and on completion of the acquisition, the entity commenced operations as ICICI Bank Eurasia LLC, a wholly-owned subsidiary of ICICI Bank.
    
The subsidiary opened its first branch in Moscow in February 2006 and offers a wide range of retail, trade and other corporate banking services.
    
ICICI Bank Eurasia's President and CEO, Niranjan Limaye, said that this financial year, the bank planned to be operatonal in three locations -- Moscow, Obninsk and St Petersburg.
    
"For the remaining part of the year, we will be adding more offices in Moscow. We are also exploring opportunities to expand our presence in other regions of Russia," he added.