ICICI Bank has been granted regulatory approval to launch a private banking business in the UK and plans to use its base there to launch int...

ICICI Bank has been granted regulatory approval to launch a private banking business in the UK and plans to use its base there to launch into Europe as well, according to reports in the Indian press. The Mumbai-based bank, which is India’s second largest in terms of assets, has been increasing its presence in the UK market in the last year and has been targeting growth among the UK’s large Indian community. The bank also has a large non-resident Indian client base. The bank said it plans to open an office in Antwerp, the world’s centre for the diamond and jewellery trade.