ICICI Bank Ltd., India’s second largest bank, today launched ICICI Bank Canada. The Canadian unit will offer a range of products targeted at retail and commercial banking clients.

Hari Panday was named the new bank’s president and CEO.

The first ICICI Bank Canada office, located in Toronto’s financial district, was inaugurated today by K. V. Kamath, Managing Director and CEO, ICICI Bank.

The new Canadian bank say it will leverage initially its brand awareness within the Indo-Canadian community, moving into the South Asian communities across the Greater Toronto Area and in Vancouver.

“Canada represents a key platform in ICICI Bank’s strategy of global expansion and ICICI Bank’s business development in the Canadian market will aim at offering a range of products on a global platform, to fulfill the needs of individuals and corporations,” said Lalita Gupte, Joint Managing Director, ICICI Bank, speaking at the launch.

In the first phase, the bank will offer a comprehensive mix of transaction accounts, term deposits, lines of credit, remittances, and trade finance services for personal and commercial segments.