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Tata signs up China's ICBC for financial services

Reuters
A man and his daughter ride a bicycle past a branch of the Industrial and Commercial Bank of China Ltd (ICBC) in Beijing June 26, 2013. REUTERS/Jason Lee/Files

MUMBAI (Reuters) - Tata Sons Ltd, the holding company of India's salt-to-software Tata conglomerate, said on Wednesday it had signed up Industrial and Commercial Bank of China Ltd (ICBC) to provide it with a host of banking services.

Under the alliance, ICBC will provide the Tata group with financing products, global cash management, consulting, international trade finance business, investment banking, foreign exchange, derivatives trading, and other global financial services, Tata Sons said in a statement.

ICBC will provide services to Tata in locations including India, China, the United States and Europe, the statement said.

(Reporting by Devidutta Tripathy; Editing by Anand Basu)