International Financial Institutions
ICICI Bank maintains correspondent banking relationship with various foreign banks and provides a wide range of products and services engineered to suit the needs of the banking sector.
ICICI Bank’s International Financial Institutions Group (“IFIG”) is responsible for maintaining relationship with the correspondent banks based outside India and aims to be the ‘Partner of Choice’ for every global bank’s banking requirement in India. IFIG is backed by dedicated Relationship team for various geographies, product, Fx resource, credit and compliance. The group works closely and focuses on providing multiple solutions in International trade and payments, treasury and liquidity. It effectively offers products such as:
- Export Letter of Credits: Advising, Confirmation, Discounting, etc.
- Trade Credits: Buyer’s credit, Supplier’s credit, Reimbursement financing, etc.
- Bank Guarantees: Inward guarantees, Outward guarantees, SBLC, etc.
- Standby Letter of Credit backed facilities to corporate clients
- Structured Trade Finance: Import financing, Multilateral backed transactions, etc.
- Asian Clearing Union (ACU) payments and USD payment services for relationship banks
- Trade asset management
As part of correspondent banking, ICICI Bank, India also offers Rupee account (INR) & Asian Clearing Union (ACU) vostro account to foreign banks. Such INR & ACU Vostro account(s) held with ICICI Bank, India is governed by certain Terms and Conditions for operations of account. In order to view the updated Terms and Conditions applicable for usage and conduct / operations of your INR account & ACU account with ICICI Bank, India, please click the below link.
Terms & Conditions
Click here for INR Vostro.
Click here for ACU Vostro.
For any clarification or more information, you may contact your Relationship Manager.