ICICI Bank, India's largest private sector bank, has once again taken giant step to boom in the banking sector.

The bank has opened its first branch in the United States at posh midtown New York with the view to provide services to US employees of large Indian companies like Infosys and Tata Consultancy Services there.

Mr. K V Kamath Managing Director and CEO of ICICI bank said, “New York has the deepest pool of capital, and by operating here, we will grow our business.”

The US branch will offer a suite of banking services including working capital, acquisition finance, and trade service and treasury solutions to qualified individuals. It will also manage salary accounts of US employees.

ICICI bank was empowered to serve the retail needs of Indians, who come to the United States on work H1B visa.

The bank will also offer package facilities to the employees before they leave for the US, which will enable them to do business from the day of their arrival.

ICICI Bank has opened a branch, on Thursday, in Frankfurt, Germany, which flourishes its presence in 19 countries, including three wholly owned subsidiaries in Britain, Russia and Canada.

The bank is also eyeing to open more branches in the US which will not only burgeoning trade with the US but also provide innovative techniques and services in the banking sector.

The new US branch will start working from Monday.