ICICI Bank on 15 October 2012 signed a memorandum of understanding (MoU) with Ecobank Transnational Incorporated of Africa in order to extend their banking services across their combined footprint in India and Africa.
The MoU was signed in Tokyo by Vijay Chandok, President - International Banking Group of ICICI Bank Ltd and Arnold Ekpe, Group CEO of Ecobank.
India’s trade with Africa has doubled in the past four years. Stronger investment ties are complementing this steady growth in trade with Indian investments in Africa across a range of sectors including oil & gas, pharmaceuticals, petrochemicals, fertilizers, IT and infrastructure.
About Ecobank
Eco bank is a pan-African banking conglomerate, with banking operations in 35 African countries. It is the leading independent regional banking group in West Africa and Central Africa, serving wholesale and retail customers. Ecobank was incorporated in Lome, Togo. Ecobank Transnational Incorporated is the parent company of the leading independent pan-African banking group.
About ICICI Bank
ICICI Bank Limited is India's largest private sector bank and the second largest bank in India, with consolidated total assets of US $ 111 billion as on June 30, 2012.
It is the second largest bank in India by assets and third largest by market capitalization.
ICICI Bank Signed an Agreement with Eco Bank of Africa
Corporate/Bussiness Current Affairs 2012. ICICI Bank on 15 October 2012 signed a memorandum of understanding (MoU) with Ecobank Transnational Incorporated of Africa in order to extend their banking services across their combined footprint in India and Africa
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