LONDON - Moneybox Corporation, an independent supplier of ATM services, is supporting the development of a UK banking operation by India's second largest bank, ICICI Bank Ltd. ICICI recently opened its first UK branch in Knightsbridge, London, with an ATM that is managed by Moneybox.
ICICI established the new subsidiary, ICICI Bank UK Ltd, to target the business and retail banking requirements of corporations and individuals from the Asian community within the UK.
The UK subsidiary is a major step in ICICI Bank Ltd's development as a global banking organization. In India, ICICI offers branch, Internet and telephone banking, as well as the country's largest ATM network.
According to a news release, all Link cardholders will be able to change their PINs and order statements as well check balances and withdraw cash free of charge through the new Moneybox ATM.
"ICICI is clearly committed to providing the widest possible access for its customers and has led the way in Internet and ATM banking in India," said Paul Stanley, Moneybox's chief executive. "We are delighted to be able to support the development of ICICI Bank's UK business by meeting their ATM needs with this initial installation in their new London branch."
