The country's largest private sector bank, ICICI Bank, does not wish to participate in the consolidation process in the Indian banking sector, and will grow organically, said K V Kamath, managing director and chief executive, ICICI Bank. | |
| The bank which is foraying in a major way overseas by setting up branches, has also ruled out any foreign acquisitions. |
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| Kamath expects international operations to contribute 20-22 per cent to the bank's overall topline in next two-three years. "We have applied for offices in Russia and New York," he said. The bank's preference has been to set up subsidiaries for its overseas ventures. |
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| Meanwhile, Kamath said ICICI Bank will dilute its stake in Federal Bank and South Indian Bank in the next three years. |
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| "These are just investments and we will dilute our holding in the next three years," said Kamath. |
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