BNP Paribas and ICICI Bank sign MoU for collaboration

15 Feb 2023 , 08:42 AM

To meet the banking needs of European businesses doing business in India and Indian businesses doing business in the European Union, ICICI Bank and BNP Paribas inked a Memorandum of Understanding (MoU) on Tuesday.

The MoU would establish a framework of a partnership between the two banks for supplying financial services to corporate clients operating in the India-Europe corridor, according to a press statement.

Anup Bagchi, Executive Director of ICICI Bank, and Grzegorz Marczuk, Chief Operating Officer of BNP Paribas India, signed the Memorandum of Understanding at a meeting in Mumbai.

‘We do see a number of Indian corporations becoming world leaders. With the correct balance of our substantial worldwide reach and ICICI Bank’s strong domestic physical network, our relationship with ICICI Bank will help corporates’ expansion goals. According to Sanjay Singh, Head of Territory & CEO, BNP Paribas India who talked to ET, ‘This agreement will further enhance our commitment to serving Indian corporate clients aiming to grow their footprint in India and European corporate clients on their worldwide journey.’

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