Why bank with us – ICICI Bank UK PLC
We offer you a range of personal banking, business, corporate and investment banking services in the UK and Europe. We’re a wholly owned subsidiary of ICICI Bank Ltd, an award-winning global bank.
- India’s largest private bank
- 25 million customers in 19 countries
- Total assets of US$ 100 billion+ as on September 30, 2010
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Whether you’re a multinational or a local corporate, we understand your business needs and provide you with bespoke services for your trade and working capital requirements.
Imports
- Import LC (letter of credit) - we can issue letters of credit to enable you to purchase goods from international suppliers. You can benefit from our worldwide distribution network (our offices/branches and correspondent banking relationships) and our expertise in structured instruments.
- Collection Bills - we handle import collection bills which are a common and flexible method of payment for goods purchased from your suppliers. Our expertise enables efficient and prompt handling of your import collection documents.
- We arrange delivery orders and shipping guarantees - in certain situations your goods may arrive at the port before the shipping documents have been processed through the banking system. We can issue a shipping guarantee allowing you to take control of the goods from the shipping company.
- Import financing - for many businesses import financing is an essential tool for growth. We address your working capital gap through various import financing solutions in foreign currency including buyers and supplier’s credit at competitive LIBOR (London Interbank offer rate) linked rates.
Exports
- Export LC (letter of credit) Advising – by advising the export LC or amendment, the advising bank signifies that it has satisfied itself as to the apparent authenticity of the LC or amendment and that the advice accurately reflects the terms and conditions of the LC or amendment received. We can handle export letters of credit to assist timely delivery by exporters.
- Export LC (letters of credit) confirmation – we offer confirmation services of export letters of credit received from other foreign banks, enabling you to eliminate foreign bank and country risks from your exports. Once we add our confirmation to the letter of credit you are assured of payment, subject to non-discrepant documents, irrespective of non-payment by LC opening bank.
- Collection Bills – routing your export collection bill activities through us will help to eliminate many of your exporting challenges. Not only will your international banking become more uniform, but you also experience fewer delays in receiving payment, gaining greater control over your export receivables and benefit from an efficient cash flow management.
- Export LC bill discounting and negotiation – we can negotiate export bills drawn under letter of credit provided that the documents are presented in accordance with the terms and conditions of the LC.
- Pre-and post-shipment financing – we provide pre-shipment finance at competitive rates to help you meet your working capital needs while manufacturing your goods for export. Similarly for post-shipment financing, we can credit the discounted value of your invoice immediately upon shipment of goods. The proceeds are credited to your account provided the export documents are presented to us.
Bank guarantees
When entering into a large-scale business transaction or high-value project, a company is required to submit a bank guarantee. In an increasingly challenging business environment, a bank guarantee is an effective way of securing performance and payment. We provide bank guarantee services that assure your clients of your strong commitment. Some of the variants of guarantees offered include:
- Performance guarantees
- Financial guarantees
- Bid bond guarantees
- Advance payment guarantees
- Deferred payment guarantees
- Stand-by letters of credit
