Company Background - ICICI Bank

ICICI Bank, a private sector bank under the house of ICICI was incorporated in the year of 1994. It is a multi-specialist financial service provider with leadership position across the spectrum of financial services in India. ICICI Bank is the 2nd largest bank in India and Bank breaking into the top 100 financial institutions in the world, in terms of market capitalisation. It got this position in short time, because the bank doing what customers want. ICICI running its business with six principal groups, such as Retail Banking, Wholesale Banking, International Banking, Rural, Micro Banking and Agri-Business, Government Banking and Corporate Centre. The Bank offers a wide spectrum of domestic and international banking services to facilitate trade, investment banking ,Insurance, Venture Capital, asset management, cross border business & treasury and foreign exchange services besides providing a full range of deposit and ancillary services for both individuals and corporates through various delivery Channels and specialized subsidiaries. ICICI Bank has 14 subsidiaries, out of that 10 in domestic and rest of 4 in international level such as UK, Canada and Russia. To efficiently distribute its products and services, the bank has developed multiple access channels comprising lean brick and mortar branches, ATMs, call centers and Internet banking. The Bank has introduced the concept of mobile ATMs in the remote/rural areas. It has also extended its mobile banking services to all cellular service providers across India and NRI customers in USA,UK,Middle-East and Singapore.

The merger and acquisition are the key kind to bank. The Bank of Madura (BOM) got merged with ICICI Bank during the period 2000-01 and in 2001 ICICI (Financial Institution) merged with ICICI Bank. The two subsidiaries of ICICI Ltd viz ICICI Personal Financial Services and ICICI Capital Services were also merged with the ICICI Bank on March 2002. During May,2003 the bank has acquired Transamerica Appple Distribution Finance Private Ltd and renamed it to ICICI Distribution Finance Private Limited which is primarily engaged in financing in the two-wheeler segment.

Bank received many awards and recognitions during the year 2005-06. Some of them are Best Bank in India by Euromoney, Best Integrated Consumer Bank Site in Asia by Global Finance, Best Cash Management-Country Awards in India by The Asset and Best Secondary Offering by Finance Asia. ICICI Bank noted as Bank of the year 2006 India by The Banker, it was a award to ICICI Bank at second time from last year. During the year 2006-07 also Bank acquired the number of awards. Samples are, Best Transaction Bank in India by Asset Triple AAA, Best Bank of the Year 2006 by Business India, National Award for Excellence in Energy Management by CII and Excellence in Multi Channel Distribution by Asian Banker.

As on April 2007 Sangli Bank Ltd was merged with ICICI Bank Ltd. In the Wholesale Banking segment, the bank has achieved a significant milestone in the market making activity by expanding the product suite to include foreign exchange options. As on May 2007 the bank have market capitalisation of Rs 77,834 crore. In 2007 June ICICI Bank has entered into an agreement with networking solutions provider GTL Ltd to lease out its call centre facility at Mahape worth of around Rs 100 crore for a period of 25 years. In August of 2007 the bank has availed of a $200-million worth Line of Credit (LoC) from The Export-Import Bank of Korea (Korea Exim bank) for the purpose of the Hong Kong branch of ICICI Bank gets funds from Korea Exim bank, and the bank lends foreign currency loans to domestic companies investing in Korea and the bank had taken a similar LoC of $200 million from the Japan Bank for International Cooperation (JBIC) last year. In 2008 ICICI Bank, come a cropper in the global stage when it comes to their brand value, which is $2,603 million, it reveals by the study of London-based consultancy Brand Finance