ICICI Bank has signed an alliance partnership agreement with Tiger Logistics

Tiger Logistics (India) Ltd., a BSE-listed international logistics company, announced that ICICI Bank has signed an alliance partnership agreement with Tiger Logistics to facilitate integrated banking and end-to-end logistics for exporters and importers. This first-of-its-kind collaboration between ICICI Bank and an end-to-end global logistics company Tiger Logistics marks a significant milestone and synergy in the evolution of two distinct yet interlinked sectors - global logistics and banking, providing importers and exporters with a seamless and comprehensive shipping solution for their global trade requirements.

This collaboration will seamlessly integrate the ICICI Trade Emerge platform with Tiger Logistics' proprietary digital freight booking and management platform, FreightJar. This strategic alliance signifies a significant milestone in bridging the gap between the logistics and banking sectors.

The partnership will empower exporters and importers with easy access to competitive freight rates and a comprehensive solution for their global trade needs. It will enable the Trade Emerge users to receive instant quotes, streamline documentation processes, and gain visibility into their shipments. Furthermore, they can access quick financing options from ICICI Bank, simplifying their international trade operations.

Harpreet Singh Malhotra, Chairman & Managing Director of Tiger Logistics, expressed his enthusiasm for this collaboration, saying, "We are excited about the collaboration between Tiger Logistics and ICICI Bank. This strategic partnership will empower importers and exporters by simplifying their international logistics and trade finance operations and bringing down the overall logistics cost. With FreightJar integrated into the ICICI Trade Emerge platform, we are taking a significant step towards making global trade more accessible, efficient, transparent and cost-effective."

"We anticipate substantial growth opportunities and increased revenue streams with this collaboration and expect the impact of this collaboration to resonate throughout the industry," he further added.

Trade Emerge, an innovative proposition from ICICI Bank is aimed at supporting emerging businesses to optimize their trade journeys and expand their outreach through a revamped ecosystem. The one-stop solution captures a 360-degree view of trade fulfilment and facilitates the end-to-end customer journey from setting up a business to order delivery through an amalgamation of services provided by trusted alliance partners.

Shares of ICICI Bank Limited was last trading in BSE at Rs. 954.95 as compared to the previous close of Rs. 951.05. The total number of shares traded during the day was 339479 in over 4078 trades.

The stock hit an intraday high of Rs. 960.75 and intraday low of 951.75. The net turnover during the day was Rs. 324414933.00.

Shares of Tiger Logistics (India) Ltd was last trading in BSE at Rs. 447.30 as compared to the previous close of Rs. 436.10. The total number of shares traded during the day was 31046 in over 426 trades.

The stock hit an intraday high of Rs. 454.00 and intraday low of 425.15. The net turnover during the day was Rs. 13733004.00.

Source : Equity Bulls

Keywords

ICICIBank INE090A01021 IBN Alliance PartnershipAgreement TigerLogisticsIndia INE906O01011