Lalita Gupte, joint managing director of ICICI Bank, says Hong Kong is an important hub for North Asia particularly the Chinese mainland

India's second largest lender ICICI Bank recently opened its regional office in Hong Kong citing exciting opportunities in North Asia particularly in the Chinese mainland as one of the main reasons for the investment.

Lalita Gupte, joint managing director of ICICI Bank, said Hong Kong is an important hub for North Asia especially in countries like China, Japan, Korea, Taiwan and Hong Kong as a market in its own right.

"These countries offer tremendous potential. Take for example the India China trade which grew from ground zero to US$30-$40 billion. China's global trade has grown to something like US$1.3 trillion and Hong Kong accounts for 15 per cent of China's exports. So, it's important for us to be in Hong Kong," explained Ms Gupte. ICICI also has a presence in Russia, Canada, UK, Bahrain, Singapore and Sri Lanka.

She added there is a strong Indian community in Hong Kong providing lots of opportunities for ICICI Bank and also in wealth management services.

"Many Indians have been in Hong Kong for three to four decades. They have made the city their base and many have business ventures here but at the same time, want to strengthen their bases in India. We can help facilitate trade for these business ventures," she added.

ICICI Bank has been expanding its international operations for the last three years. "We have started the strategy of following our customers and linking opportunities with them," said Ms Gupte. "Everywhere we've gone internationally, our presence has been profitable." 

ICICI Bank has teamed up with Hong Kong's fifth largest lender, Bank of East Asia, leveraging on BEA's strong presence and large network in the Chinese mainland.

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