ICICI Bank
 |
|
| Private Sector Bank | |
| Traded as |
|
| Industry | Banking, Financial services |
| Founded | 1994 |
| Headquarters | Mumbai, Maharashtra, India |
|
Area served
|
Worldwide |
|
Key people
|
Mr. M. K. Sharma (Chairman) Mrs. Chanda Kochhar (MD & CEO) |
| Products | Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, wealth management, personal loans, payment solutions. |
| Revenue | US$10.3 billion (2016) |
| US$3.6 billion (2016) | |
| Profit | US$1.5 billion (2016) |
| Total assets | US$109.0 billion (2016) |
| Total equity | US$13.5 billion (2016) |
|
Number of employees
|
74,096 (2016) |
| Website | www |
ICICI Bank (Industrial Credit and Investment Corporation of India) is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra, India, with its registered office in Vadodara. In 2014, it was the second largest bank in India in terms of assets and third in term of market capitalisation. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialised subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management. The bank has a network of 4,450 branches and 14,404 ATMs in India, and has a presence in 19 countries including India.
The bank has subsidiaries in the United Kingdom and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Oman, Dubai International Finance Centre, China and South Africa; and representative offices in United Arab Emirates, Bangladesh, Malaysia and Indonesia. The company's UK subsidiary has also established branches in Belgium and Germany.
ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI) , an Indian financial institution, as a wholly owned subsidiary in 1994. The parent company was formed in 1955 as a joint-venture of the World Bank, India's public-sector banks and public-sector insurance companies to provide project financing to Indian industry. The bank was founded as the Industrial Credit and Investment Corporation of India Bank, before it changed its name to the abbreviated ICICI Bank. The parent company was later merged with the bank.
ICICI Bank launched internet banking operations in 1998.
ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a public offering of shares in India in 1998, followed by an equity offering in the form of American Depositary Receipts on the NYSE in 2000. ICICI Bank acquired the Bank of Madura Limited in an all-stock deal in 2001 and sold additional stakes to institutional investors during 2001-02.
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