Strategy
India's ICICI Bank Joins The United Stock Exchange
India's ICICI Bank has acquired a 1.33 per cent interest in the United Stock Exchange of India for an undisclosed sum.
The USE said the bank's move is meant to strengthen its bank shareholder base and to reach out to new clients from both the institutional and retail segments. This is also expected to boost currency trading activities in the country, particularly at a time the USE is close to launching its currency derivatives segment.
To date, the USE is promoted by 21 public sector banks aside from
private banks and corporate firms. The ICICI is the 26th bank to
join the exchange.
