ICICI Aims To Become Sri Lanka''s Top Foreign Bank

Colombo: ICICI Bank has aimed a balance sheet of over one billion dollars within the next 4-5 years as it mulls to become the top foreign bank in Sri Lanka. The bank is working with the Securities and Exchange Commission to develop the securitisation market. This year, other than branch expansion work, it is working with the Central Bank to introduce a Commodity Exchange Centre for commodities. The bank recently unveiled a special offer scheme of sanctioning a loan in two days for its customers in Sri Lanka. The bank is also giving early settlement of loans with a 100% interest rebate and minimal foreclosure charges.