ICICI Bank Limited, Hong Kong branch (ICICI Bank Hong Kong) offers correspondent banking services to Banks in USD, HKD and RMB. ICICI Bank Hong Kong is a Direct Participant (DP) in USD, HKD and RMB clearing in Hong Kong. ICICI Bank Hong Kong is a Service Provider (SP) in servicing cross border payments in USD and RMB. The cross border payments in USD cover Asian Countries for Real time settlement advantage. We enable correspondents to settle through New York and Hong Kong from a single Nostro and act as reimbursement Bank of the correspondents.
Hong Kong is having the unique advantage of offering payment systems in four currencies
Buyer’s credit is extended as loans for payment of imports into India arranged by the importer from a bank or financial institution outside India for maturity of less than three years.
Supplier’s credit relates to credit for imports into India extended by the overseas supplier.