ICICI Bank Ltd is a major banking and financial services organization in India. The Bank largest private sector bank in India by market capitalization.
Quick Facts about ICICI Bank
Head Quarters: Mumbai
MD and CEO: Chanda Kochhar
The Bank has a network of 2,035 branches and about 5,518 ATMs in India.
Branches in others countries:
They have branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia.
History of ICICI Bank
- ICICI Bank Ltd was incorporated in the year 1994 as a part of the ICICI group with the name ICICI Banking Corporation Ltd.
- The initial equity capital was 75.0% by ICICI and 25.0% by SCICI Ltd, a diversified finance and shipping finance lender of which ICICI owned 19.9% at December 1996.
- Pursuant to the merger of SCICI into ICICI, ICICI Bank became a wholly-owned subsidiary of ICICI.
- In September 10, 1999, the name of the Bank was changed from ICICI Banking Corporation Ltd to ICICI Bank Ltd
The Bank and their subsidiaries offers a wide range of banking and financial services including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services.
- Pockets by ICICI Bank is a unique ‘Digital Bank’.
Subsidiaries of ICICI Bank
- ICICI Prudential Life Insurance Company
- ICICI Securities
- ICICI Lombard General Insurance Company
- ICICI Prudential AMC & Trust
- ICICI Venture
- ICICI Direct
Hum Hai Na, Khyal aapka
Latest news about ICICI Bank
- The Bank launched a digital service that enables customers to open a Public Provident Fund (PPF) account instantly and in a completely online and paperless manner.
- Paytm and ICICI Bank to jointly launch ‘Paytm- ICICIBank Postpaid’ the most seamless way to access interest-free short-term digital credit.
- The Bank launched India’s first voice-based international remittance service to enable non-resident Indians (NRIs) to send money to any bank in India.
- The Bank launched a new home loan, which offers borrowers the benefit of 1% cashback on every EMI, for the entire tenure of the loan.
- ICICI Bank enables the savings account customers of the Bank to get a credit card instantly, in a completely digital and paperless manner.
Awards & Recognition
- ICICI Bank received a citation at the fifth edition of The Financial Inclusion Agenda organised by CNBC-TV18 in the ‘Impactful Financial Inclusion Initiatives’ category
- Ms. Chanda Kochhar emerged 5th on Forbes list of ‘The World’s Most Powerful Women in Finance 2017’ and is the only Indian leader to be featured in this list
- Ms. Chanda Kochhar was featured on Fortune India’s list of ‘The 50 Most Powerful Women 2017’. She was ranked as the second most powerful woman Indian leader
- ICICI Bank won four awards across multiple categories among ‘Large Banks’ at the Infosys Finacle Client Innovation Awards 2017 for its 10 projects.
- Ms. Chanda Kochhar won the ‘CEO of the Year’ award at the 2017 Asia-Pacific SABRE Awards.
- Ms. Chanda Kochhar was conferred with the ‘Most Powerful Business Women of the Year
- ICICI Bank won the award in the ‘Best Private Sector Bank – Rural Reach’ category at the ‘Dun & Bradstreet Banking Awards 2017.
Main Article : Private Sector Banks in India