ICICI Bank, India’s largest Bank, has set up a branch in Dubai’s International Financial Centre to service high net worth clients with inves...

ICICI Bank, India’s largest Bank, has set up a branch in Dubai’s International Financial Centre to service high net worth clients with investible assets of $1 million or more, after a license was granted by Dubai Financial Services Authority. "The UAE itself has more than 53,000 millionaires. We are delighted to set up a branch at DIFC as it will provide the necessary platform to expand the International Private Banking operations in the region,” said Mr K V Kamath Managing Director and CEO of ICICI Bank. Dr Omar Bin Sulaiman, Director General of the DIFC Authority said: “India and Indians are a very important market to the DIFC, we are looking forward to welcoming the key players from this market. Being based at the DIFC gives them the ideal platform for their global expansion and to reach out into a region with immense liquidity.” ICICI already has a representative office in the UAE.