MILAN (ITALPRESS) – UniCredit and ICICI Bank, one of India’s leading private banking institutions, have signed a memorandum of understanding aimed at supporting growth opportunities for businesses active between Europe and India. The Protocol defines a framework of collaboration between the two banks to strengthen their support for multinationals with economic activities and interests in the two geographical areas. The collaboration will allow companies to more effectively manage their international activities and their growth programs through a complete offer of solutions, which includes corporate and retail banking, currency exchange, business capital management, trade finance and supply chain finance. The EU is the largest foreign investor in India, with a stock of foreign direct investments of approximately EUR 133 billion and over 6,000 European companies operating in the country. In 2025, the EU was India’s third trading partner, with over 118 billion assets and over 67 billion exchanged services. Once ratified and implemented, the free trade agreement between the EU and India would involve almost two billion people and would represent about a quarter of the global GDP.
Francesca Nenci, Head of Group Trade and Correspondent Banking of UniCredit, commented: “India is already a strategic partner for the trade and investment of many of our customers and we expect that this relationship will become even more significant in the coming years. In 2025, the trade exchange between Italy and India reached approximately 15 billion euros, while that between Germany and India exceeded 46 billion euros in goods and services, witnessing the strategic value of this economic axis for the key markets of UniCredit. The partnership with ICICI Bank further strengthens UniCredit’s ability to trade finance and allows us to support European companies in India with an even more qualified local presence, a deeper understanding of the market and a dedicated assistance directly on the territory.” A spokesman for ICICI Bank commented: “The partnership between ICICI Bank and UniCredit puts the respective skills and banking solutions to support companies active in the two geographical areas. Thanks to its widespread presence throughout India, advanced digital capabilities and a complete offer of banking services, ICICI Bank is in the ideal position to support UniCredit customers in the development and expansion of their activities in India. Similarly, the pan-European presence and expertise of UniCredit will allow us to accompany our corporate customers in their banking needs across Europe.”.
– photo IPA Agency –
(ITALPRESS).
