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:
click to enlarge