Kathmandu. ICICI Bank of India Limited has inaugurated its representative office in Nepal. The bank has inaugurated its representative office at Central Business Park in Thapathali, Kathmandu. ICICI Bank is the first private sector bank in India to set up a representative office in Nepal.

The Representative Office was inaugurated by Governor Maha Prasad Adhikari of Nepal Rastra Bank, Indian Ambassador to Nepal Vinay Mohan Kwatra, Nepali Ambassador to India Nilambar Acharya and Managing Director and CEO of ICICI Bank Sandeep Baksi.

Through the Representative Office, the Bank will work closely with the banks of Nepal and facilitate investment, trade, payment and treasury trade between the two countries. With the establishment of branch representative offices in Nepal, the bank's international branch representative offices have reached 15 different countries.

Speaking at the inaugural function, Shri Ram H Ayre, Head of International Banking Group, said that Nepal and India have important trade and investment ties and the establishment of a representative office with strong cooperation with Nepali banks would help in expanding economic activities between the two countries.

 The Bank has appointed Ranjan Kumar Thapa as the Head of the Representative Office of Nepal.