ICICI Bank is investing $100 mn in its first phase of international banking operations. This is the bank's next big growth strategy after having established itself in consumer finance business. Where will this global push take the bank?

ICICI Bank, the second largest bank in India, provides a wide range of banking products and services to corporate and retail customers. After growing aggressively in consumer finance business in India, it has entered the global banking industry. With the opening of its first Indian Offshore Banking Unit (OBU) at the special economic zone, Andheri East, Mumbai, in July 2003, the bank had marked a beginning for its global operations. The Indian OBU is placed to tap the offshore initiatives, which is the key element of the international strategy. ICICI Bank plans to enter the global markets through a mix of subsidiaries, offshore branches and representative offices. To fund its initial push into seven countries, the bank has an investment plan of $100 mn.

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