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Fino Bank enters into partnership with ICICI Bank.

Global Banking News-July 18, 2017--Fino Bank enters into partnership with ICICI Bank

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Global Banking News - 18 July 2017

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India-based payments bank, Fino Bank, has said that it has entered into an association with ICICI Bank (NSE: ICICIBANK).

The bank, which had launched its operations on Monday with 410 branches, has now announced the partnership with ICICI Bank. The agreement will see ICICI Bank installing its ATMs in the premises of Fino Bank. ICICI group products including home loans, life and general insurance will also be sold by the payments bank.

Chanda Kochhar, MD & CEO, ICICI Bank, said, 'The idea of Fino sprouted in ICICI Bank with the objective of addressing the gap in the banking system in terms of serving unversed individuals. She added that FPB is well positioned to reap the benefit of the mobile revolution that was taking place. It has the advantage of getting support from ICICI Bank in terms of infrastructure, knowledge and products. Fino will have access to a wide range of ICICI Bank products like term deposits, retail loans and cross border remittance services.'

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Publication:Global Banking News (GBN)
Date:Jul 18, 2017
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