Lloyds TSB offers Indian Banking Service

07 April 2006
One of the UK's largest banking corporations, Lloyds TSB, is now offering an Indian banking service to customers at three of its Glasgow branches.

Lloyds TSB Scotland has teamed up with ICICI Bank, India's largest private banking company, to offer the service, which includes free money transfers between India and the UK at a preferential exchange rate.

The partnership gives customers access to ICICI Bank's 560-strong branch network in India and will also provide Rupee mortgages for Indian property purchases from the selected Lloyds TSB Scotland branches.

"There are now more than one million Indians living and working in the UK," said James Lewis, the head of Lloyds TSB's India banking service. "However the community's links with India remain solid.

"Many British Indians have businesses, investments, properties and families back home which they continue to finance," Mr Lewis continued.

"The Indian Banking Service is designed with the needs of this community in mind and should help people across the UK get the most out of their money."

ICICI Bank holds approximately $33 billion in assets and was only the second Asian bank, the first Indian company, to list on the New York stock exchange.

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