Kathmandu, January 6: Nabil Bank and ICICI Bank, India’s leading private sector bank, have signed a Memorandum of Understanding (MoU) that sets out a framework for co-operation and strengthen the existing relationship between the two institutions across various businesses like trade, remittances, and treasury. Mr. Anil Keshary Shah, CEO, Nabil Bank and Ms. Ranju Sigtia, Head – International Financial Institution Group, ICICI Bank signed the MoU at Nabil Bank’s head-quarters in Kathmandu on Sunday (Jan 5).
“The two institutions will work in close co-ordination to support the trade and treasury needs of their customers seamlessly. The initiative will enable both of them to effectively leverage the combined strengths of Nabil Bank’s deep market access in Nepal and ICICI Bank’s expertise in banking and the distribution franchise across India and in key global markets,” states a press release issued by Nabil Bank.
“We are proud to partner with ICICI Bank. This MoU creates a platform for sharing knowledge and deepening network connectivity between Nabil Bank and ICICI Bank – especially for our customers doing business with India,” the release quoted Shah as saying.
“Nepal has a strong and growing, trade and investment corridor with India. ICICI Bank is actively working with partner banks to connect customers in Nepal with India and other overseas locations, where ICICI Bank has its presence. In line with our continuing commitment to furthering our participation in the growing India-Nepal economic corridor, we are delighted to sign this MoU with Nabil Bank,” the release further quoted Ms. Ranju Sigtia as saying on the partnership.
