Financial Times

ICICI Bank head hunting for staff
By Duruthu Edirimuni
ICICI Bank, India's second largest bank, is head hunting for people to lead its Sri Lankan operations that they hope to launch soon even while it awaits approval by the Central Bank for a banking licence.

“The Central Bank is still going through ICICI’s licence application and instructing the bank to comply with some essential requirements,” a Central Bank source told The Sunday Times FT.

However, ICICI seem to be confident that they will get the licence, because they have approached several top managers in the industry on various leading positions for its local operations.

“Since they have not got a license, they have outsourced their recruiting process to a recruitment agency, which is operating from a hotel,” a top banker said. “They must be interviewing potential candidates in anticipation of the licence,” the Central Bank source said.

ICICI Bank has subsidiaries in the United Kingdom, Canada and Russia with branches in Singapore and Bahrain and representative offices in the United States, China, United Arab Emirates, Bangladesh and South Africa.

As at April this year, ICICI Bank with free float market capitalisation of about US$ 7 billion, was ranked third amongst all the companies listed on the three Indian stock exchanges.

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