Agency report

Bahrain, May 21: India's largest private sector bank ICICI has garnered a significant market share of the NRI retail business in Bahrain since launching its operations in the country in October 2004.

ICICI's Bahrain Offshore Banking Unit (OBU) has built up a significant asset base in a short span of 18 months and ICICI prudential life insurance company has also opened its subsidiary in Bahrain this year, ICICI Bahrain country head Ajay Sharma said.

The bank also launched various value-added services for its customers in Bahrain such as online remittances and the visa debit card, he was quoted as saying by a local newspaper.

The bank continued to build on its existing presence in various geographies as well as enter new markets, Sharma said.

In addition to providing credit and trade finance solutions to Indian companies, ICICI was expanding its international retail franchise through technology-based banking services, he said.