Flush with cash (approx $5BN) and relatively unharmed by the credit crunch, ICICI (based in Mumbai) is looking to expand globally:

ICICI, which initially focused on serving people of Indian origin in India and abroad, already offers online saving accounts to non-Indian customers in those three countries and is keen to build a “global brand” as rising interest rates slowed growth of its consumer lending business at home. ICICI operates in 19 countries outside India, including the United States, and those markets account for about 25 percent of the bank’s assets, or $30 billion.

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