ICICI Bank Gains a Foothold in Singapore

| About: ICICI Bank (IBN)

According to a report in Business-Standard, The Monetary Authority of Singapore [MAS] is now willing to open the doors for two Indian banks — State Bank of India and ICICI Bank (NYSE:IBN) — and offer them the status of qualifying full bank [QFB], which can raise retail deposits and operate at 25 centres in Singapore.

This will no doubt continue to help ICICI gain international footprints.

IBN 1-yr chart:

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ICICI Bank 1-yr