Banking and investment needs of affluent private clients and family businesses have changed over a period of time, particularly in the last two decades.

Globalisation and technology are the two main catalysts of this change. Bahrain being a business-friendly country has taken the centre-stage, not only in providing a conducive business environment but also safe and premier lifestyles.

Importantly, Bahrain as a destination is chosen by expats from across the world, making it multi-cultural and multi-ethnic.

For this reason, Bahrain has attracted many Indian professionals and entrepreneurs. ICICI Bank, being one of the largest private sector Indian banks, has envisaged this transformation and along with other global destinations, established its base in Bahrain almost two decades ago.

Since then, it has been serving the banking needs of Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) in Bahrain.

Being an Indian bank, its focus has largely been on Indian products, offerings and services.

ICICI Bank Bahrain country head Amit Bansal said, “We cater to individual, private banking and corporate clients in Bahrain by offering them products as per their needs. We offer deposits in Indian rupees and US dollars, inbound and outbound remittances, Indian mutual funds in INR and dollar and bonds of Indian companies issued in dollar and INR. We also offer opening accounts with ICICI Direct, which enables clients to trade in Indian stock market. Additionally, our Bahrain branch helps customers to avail of home loans to purchase residential properties in India.

“Another innovative product offered is ‘loan against NRI deposits’ which is an attractive way for NRIs based in Bahrain to raise liquidity.

“Besides individuals, we also cater to the corporate banking needs of Indian companies based in Bahrain. We offer services like trade facilities, remittances, treasury and other cross-border facilities, thus making it a one-stop shop for all financial needs of the customers.”

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