ICICI arm to offer IT solutions overseas

NEW DELHI: Indian financial services firm ICICI Ltd. plans to offer software

solutions developed by it for the financial services industry overseas through

its software arm, its chief executive officer said on Monday.

"My understanding is there are 14,000 banks in the US of which 13,000

are not Web enabled...The idea is to address this large opportunity which is

there in the US," KV Kamath told a financial conference.

He said ICICI was already setting up offices in the United States and that

operations there were in a consolidation phase.

"In terms of banking domain technology, whatever we can do we would like

to do with banks in the US through ICICI Infotech," Kamath said. He said

this could be extended to other areas of financial services as well.

(C) Reuters Limited 2000.