ICICI Bank has signed a Memorandum of Understanding (MoU) with the Commonwealth Bank of Australia (CBA) to enhance support for customers across the Australia-India corridor. The agreement was signed by Rakesh Jha, Executive Director of ICICI Bank, and Mike Vacy-Lyle, Group Executive of Business Banking at CBA.
The MoU aims to:
- Introduce corporate and institutional customers interested in expanding or investing in each other’s markets.
- Facilitate trade between Australia and India through banking services and cross-border trade guidance.
- Assist migrants with banking services in both countries.
- Collaborate on cross-border payments with customer-centric solutions.
Rakesh Jha emphasized the growing opportunities between India and Australia, while Mike Vacy-Lyle highlighted the benefits of the partnership for businesses in both nations, helping them navigate challenges and seize opportunities.