BANKING SCENARIO

The Indian Banking industry, which is governed by the Banking Regulation Act of India, 1949 can be broadly classified into two major categories, nonscheduled banks and scheduled banks. Scheduled banks comprise commercial banks and the co-operative banks. In terms of ownership, commercial banks can be further grouped into nationalized banks, the State Bank of India and its group banks, regional rural banks and private sector banks (the old/ new domestic and foreign). These banks have over 67,000 branches spread across the country. The first phase of financial reforms resulted in the nationalization of 14 major banks in 1969 and resulted in a shift from Class banking to Mass banking. This in turn resulted in a significant growth in the geographical coverage of banks. Every bank had to earmark a minimum percentage of their loan portfolio to sectors identified as “priority sectors”. The manufacturing sector also grew during the 1970s in protected environs and the banking sector was a critical source. The next wave of reforms saw the nationalization of 6 more commercial banks in 1980. Since then the number of scheduled commercial banks increased four-fold and the number of bank branches increased eight-fold. After the second phase of financial sector reforms and liberalization of the sector in the early nineties, the Public Sector Banks (PSB) s found it extremely difficult to compete with the new private sector banks and the

foreign banks. The new private sector banks first made their appearance after the guidelines permitting them were issued in January 1993. Eight new private sector banks are presently in operation. These banks due to their late
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start have access to state-of-the-art technology, which in turn helps them to save on manpower costs and provide better services. During the year 2000, the State Bank Of India (SBI) and its 7 associates accounted for a 25 percent share in deposits and 28.1 percent share in credit. The 20 nationalized banks accounted for 53.2 percent of the deposits and 47.5 percent of credit during the same period. The share of foreign banks (numbering 42), regional rural banks and other scheduled commercial banks accounted for 5.7 percent, 3.9 percent and 12.2 percent respectively in deposits and 8.41 percent, 3.14 percent and 12.85 percent respectively in credit during the year 2000.

Current Scenario
The industry is currently in a transition phase. On the one hand, the PSBs, which are the mainstay of the Indian Banking system are in the process of shedding their flab in terms of excessive manpower, excessive non Performing Assets (Npas) and excessive governmental equity, while on the other hand the private sector banks are consolidating themselves through mergers and acquisitions. PSBs, which currently account for more than 78 percent of total banking

industry assets are saddled with NPAs (a mind-boggling Rs 830 billion in 2000), falling revenues from traditional sources, lack of modern technology and a massive workforce while the new private sector banks are forging ahead and rewriting the traditional banking business model by way of their sheer innovation and service. The PSBs are of course currently working out
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challenging strategies even as 20 percent of their massive employee strength has dwindled in the wake of the successful Voluntary Retirement Schemes (VRS) schemes. The private players however cannot match the PSB’s great reach, great size and access to low cost deposits. Therefore one of the means for them to combat the PSBs has been through the merger and acquisition (M& A) route. Over the last two years, the industry has witnessed several such instances. For instance, Hdfc Bank’s merger with Times Bank

Icici Bank’s acquisition of ITC Classic, Anagram Finance and
Bank of Madura. Centurion Bank, Indusind Bank, Bank of Punjab, Vysya Bank are said to be on the lookout. The UTI bank- Global Trust Bank merger however opened a pandora’s box and brought about the realization that all was not well in the functioning of many of the private sector banks. Private sector Banks have pioneered internet banking, phone banking, anywhere banking, mobile banking, debit cards, Automatic Teller Machines

(ATMs) and combined various other services and integrated them into the mainstream banking arena, while the PSBs are still grappling with disgruntled employees in the aftermath of successful VRS schemes. In a span of just four years, ICICI Bank has emerged as a consumer banking behemoth. With a retail book of over Rs 56,000 crore (Rs 560 billion) and a market share that is the envy of competition -- it has a share of over 30 per cent -- ICICI Bank today has reached a commanding position.
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The bank boasts of the widest integrated technology platform in the country and only a fourth of its business takes place at its branches. Its legacy of non-performing assets (NPAs) -- for which it has been rated below its peers -- is now almost history with net NPLs (nonperforming loans) down to 2 per cent. Armed with a much stronger balance sheet, ICICI Bank is aggressively foraying into overseas markets and also has an eye on rural India. This year consumer credit will grow by about Rs 40,000 crore (Rs 400 billion) from Rs 145,000 crore (Rs 1,450 billion) to Rs 185,000 crore (Rs 1,850 billion). Last year, despite competition from small savings, incremental deposits grew at 15 per cent and this year, too, the RBI (Reserve Bank of India) is pegging deposit growth at 15 per cent. That's not too different from the historic growth rate of 17 per cent over 30 years. I acknowledge that small savings pose competition; they have a lot of arbitrage.

But, interestingly, mutual funds were not competitors. MFs, I find, are competitors when interest rates decline; they don't have ability to compete when rates rise. Also insurance companies, which saw money because of the tax incentives, could be under pressure with the incentives going. Today, ICICI Bank, India has the largest market share and value among all banks in retail or consumer financing. ICICI Bank is the largest issuer of credit cards in India. It was the first bank to offer a wide network of ATM's
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and had the largest network of ATM's till 2005,before SBI caught up with it. ICICI bank now is widely seen as a sophisticated bank able to take on many global banks in the Indian market. The bank is expanding in overseas markets. It has operations in the UK, Hong Kong, Singapore and Canada. It acquired a small bank in Russia recently. It has tie-ups with major banks in the US and China. The bank is aggressively targeting the NRI (Non Resident Indian) population for expanding its business. The global opportunity spectrum is changing dramatically, and in the next three years, our global business will contribute one-third of our book -topline and bottomline. Today it's about 10-12 per cent. The NRI is a great customer and the other is the Indian corporate who is globalising -- either in the trade business or is setting up businesses abroad. Our USP (unique selling proposition) is our technology; we can get him to

talk to his constituents online. The NRI is an interesting link because today he has tremendous needs in India; he wants to remit money, buy a home, especially the H1 visa guys. This year 10 per cent of our home loans will be to NRIs.
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CHAPTER – 1 INTRODUCTION
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INTRODUCTION
Founded in 1955 as Industrial Credit and Investment Corporation of India, ICICI Limited was established by the Government of India in the 1960s as a Financial Institution like Industrial Development Bank of India (IDBI) to finance large industrial projects. ICICI then, was not a bank and hence could not take retail deposits and was not required to comply with Indian banking requirements for liquid reserves. ICICI borrowed funds from various agencies like the World Bank, often at concessional rates. These funds were deployed in large corporate loans. However, the scenario changed drastically in1990s when ICICI founded a separate legal entity and named it "ICICI Bank".ICICI Bank, as the name would suggest, undertook normal banking operations like accepting deposits, issuing credit cards, providing car loans etc. The experiment was so successful that ICICI merged into ICICI Bank and this "reverse merger" happened in 2002. ICICI Bank (BSE: ICICI) (formerly Industrial Credit and Investment

Corporation of India) "ICICI Bank is India's second largest Bank with consolidated total assets of over Rs. 470,000 crores and networth of over Rs. 50,000 crores. The Bank's capital adequacy ratio of 15.6% is among the
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highest levels of capital adequacy in large Indian banks and much higher than the regulatory requirement of 9.0%. ICICI Bank made a profit after tax of Rs. 4,158 crore (over US$ 850 million) in FY2008 and Rs. 3,014 crore (US$ 619 million) in the nine months ended December 31, 2008." ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Bank is also the largest issuer of credit cards in India. Banks have also provide internet banking, phone banking, anywhere banking, mobile banking, debit cards, Automatic Teller Machines (ATMs) and combined various other services and integrated them into the mainstream banking arena. In a span of just four years, ICICI Bank has emerged as a consumer banking behemoth. With a retail book of over Rs 56,000 crore (Rs 560 billion) and a market share that is the envy of competition -- it has a share of over 30 per cent -- ICICI Bank today has reached a commanding position. The bank boasts of the widest integrated technology platform in the country and only a

fourth of its business takes place at its branches The Bank is expanding in overseas markets and has the largest international balance sheet among Indian banks. ICICI Bank now has whollyowned subsidiaries, branches and representatives offices in 18 countries, including an offshore unit in Mumbai. This includes wholly owned subsidiaries in Canada, Russia and the UK (the subsidiary through which the hisave savings brand is operated), offshore banking units in Bahrain and Singapore, an advisory branch in Dubai, branches in Belgium, Hong Kong and Sri Lanka,
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and representative offices in Bangladesh, China, Malaysia, Indonesia, South Africa, Thailand, the United Arab Emirates and USA. Overseas, the Bank is targeting the NRI (Non-Resident Indian) population in particular.

HISTORY
1955 The Industrial Credit and Investment Corporation of India Limited (ICICI) was incorporated at the initiative of World Bank, the Government of India and representatives of Indian industry, with the objective of creating a development financial institution for providing medium-term and long-term project financing to Indian businesses. • 1994 ICICI established Banking Corporation as a banking subsidiary. formerly Industrial Credit and Investment Corporation of India. Later, ICICI Banking Corporation was renamed as 'ICICI Bank Limited'. ICICI founded a separate legal entity, ICICI Bank, to undertake normal banking operations - taking deposits, credit cards, car loans

etc. • 2001 ICICI acquired Bank of Madura (est. 1943). Bank of Madura was a Chettiar bank, and had acquired Chettinad Mercantile Bank (est. 1933) and Illanji Bank (established 1904) in the 1960s.
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2002 The Boards of Directors of ICICI and ICICI Bank approved the reverse merger of ICICI, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, into ICICI Bank. After receiving all necessary regulatory approvals, ICICI integrated the group's financing and banking operations, both wholesale and retail, into a single entity. Also in 2002, ICICI Bank bought the Shimla and Darjeeling branches that Standard Chartered Bank had inherited when it acquired Grindlays Bank. ICICI started its international expansion by opening representative offices in New York and London. • 2003 ICICI opened subsidiaries in Canada and the United Kingdom (UK), and in the UK it established an alliance with Lloyds TSB. It also opened an Offshore Banking Unit (OBU) in Singapore and representative offices in Dubai and Shanghai. • 2004 ICICI opens a rep office in Bangladesh to tap the extensive trade between that country, India and South Africa. • 2005 ICICI acquired Investitsionno-Kreditny Bank (IKB), a Russia bank with about US$4mn in assets, head office in Balabanovo in the Kaluga region, and with a branch in Moscow. ICICI renamed the bank
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ICICI Bank Eurasia. Also, ICICI established a branch in Dubai International Financial Centre and in Hong Kong. • 2006 ICICI Bank UK opened a branch in Antwerp, in Belgium. ICICI opened representative offices in Bangkok, Jakarta, and Kuala Lumpur.

2007 ICICI amalgamated Sangli Bank, which was headquartered in Sangli, in Maharashtra State, and which had 158 branches in Maharashtra and another 31 in Karnataka State. Sangli Bank had been founded in 1916 and was particularly strong in rural areas. ICICI also received permission from the government of Qatar to open a branch in Doha. ICICI Bank Eurasia opened a second branch, this time in St. Petersburg. • 2008 The US Federal Reserve permitted ICICI to convert its representative office in New York into a branch. ICICI also established a branch in Frankfurt.

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NATURE OF BUSINESS:
ICICI is a financial intermediary which brings together the savers and borrowers in the economic system. It collects funds from surplus units and lends the same to those units whose income exceeds its expenditure. In the pursuit of these objectives the ICICI Bank Limited (ICICI Bank) offers products and services in the areas of commercial banking to retail and corporate customers (both domestic and international), treasury and investment banking and other products, such as insurance and asset management. Its commercial banking operations for retail customers consist of retail lending and deposits, distribution of third-party investment products and other fee-based products and services, as well as issuance of unsecured redeemable bonds. ICICI Bank provides a range of commercial banking and project finance products and services, including loan products, fee and commission-based products and services, deposits and foreign exchange and derivatives products to corporations, growth-oriented middle market companies and small and medium enterprises.

ONWNERSHIP TYPE

JOINT STOCK COMPANY:
ICICI BANK LIMITED, is the joint stock company which is incorporated under the Companies Act, 1956 and licensed as a bank under the Banking Regulation Act, 1949 12 ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).

VISION

To be the leading provider of financial services in India and a major global bank. To be the preferred brand for total financial and banking solutions for both corporates and individuals To be the dominant Life, Health and Pensions player built on trust by worldclass people and service. This we hope to achieve by: • Understanding the needs of customers and offering them superior products and service • Leveraging technology to service customers quickly, efficiently and conveniently • Developing and implementing superior risk management and investment strategies to offer sustainable and stable returns to our policyholders • Providing an enabling environment to foster growth and learning for our employees • And above all, building transparency in all our dealings
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The success of the company will be founded in its unflinching commitment to 5 core values -- Integrity, Customer First, Boundaryless, Ownership and

Passion. Each of the values describe what the company stands for, the qualities of our people and the way we work. We do believe that we are on the threshold of an exciting new opportunity, where we can play a significant role in redefining and reshaping the sector. Given the quality of our parentage and the commitment of our team, there are no limits to our growth.

MISSION
We will leverage our people, technology, speed and financial capital to: • be the banker of first choice for our customers by delivering high quality, world-class products and services. • expand the frontiers of our business globally. • play a proactive role in the full realisation of India’s potential. • maintain a healthy financial profile and diversify our earnings across businesses and geographies. • maintain high standards of governance and ethics. • contribute positively to the various countries and markets in which we operate. • create value for our stakeholders • Provide the social facilities to the society
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IN order to build some brand equity by doing social service, ICICI Bank has decided to undertake a MISSION for reducing low birth weight incidence at the village level. Undertaken by ICICI Bank's Social Initiatives Group, the bank has decided to identify effective and scalable strategies for delivering the services required to impact female nutritional status to tackle the incidence of low birth babies.

Appointing several partners to work on this project an ICICI Bank official says, ``This is going to be a significant MISSION supported by the bank and the aim to understand whether a suitably trained health worker working with the public health system and the integrated child development scheme can provide quality services to impact low birth incidence at the village level.'' The MISSION is based in Ranchi district in Jharkhand and is being implemented through a partnership between the Department of Health, Government of Jharkhand, Krishi Gram Vokas Kendra(KGVK) and Care, both of whom are NGOs based in Jharkhand and the Child in Need Institute (CINI), an NGO based in West Bengal. Adds the ICICI Bank official, ``ICICI Bank needs to participate in the all round development of the country by focusing on some of its fundamental problems. It seeks to perform this role primarily as a funding agency, through its Social Initiatives Group.''
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ICICI Bank's Social Initiative Group's (SIG) mission is ``to identify and support initiatives designed to improve the capacities of the poorest of the poor to participate in the larger economy.'' The group seeks to achieve its mission by supporting initiatives that are costeffective, capable of large-scale replication and have the potential for near and long-term impact. ``ICICI Bank believes in strengthening or supplementing existing systems rather than investing in parallel structures.

The purpose is also to build long-term relationships with sustainable partners,'', adds the bank official. In the past, ICICI Bank has undertaken projects in the area of elementary education and micro financial services.
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BOARD OF DIRECTORS
Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr.
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Narendra Murkumbi --------- Director Madhabi Puri Buch --------- Executive director P M Sinha ---------- Director M K Sharma ---------- Director Sonjoy Chatterjee ----------- Executive director Anupam Puri ----------- Director T S Vijayan ----------- Director K V Kamath ----------- Managing Dtr & CEO N Vaghul ----------- Chairman Marti G Subrahmanyam ----------- Director Sridar Iyengar ------------ Director Lakshmi N Mittal ------------ Director V Prem Watsa ------------ Director Chanda D Kochhar ------------ Joint Managing Dtr V Vaidyanathan ------------- Executive Director Arun Ramanathan ------------- Director

REGISTERED OFFICE

ICICI Bank Limited Registered Office: Landmark, Race Course Circle, Vadodara 390 007. Corporate Office: ICICI Bank Towers, Bandra Kurla Complex, Mumbai 400 051.

SUBSIDIARIES
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ICICI SECURITIES

ICICI Securities, Ltd. operates as an investment banking company in India. It offers corporate finance services, including advisory services related to

joint ventures, mergers, acquisitions, divestitures, spin-offs, and leveraged buyouts; equity capital markets services, such as initial public offerings, rights offerings, convertible offerings, and private placement and international offerings for unlisted and listed entities; private equity/venture capital services; and infrastructure advisory services. The company also provides services related to fixed income and money markets, which include designing instruments, pricing, structuring, documentation, and placing the issue with institutional investors; debt trading, including corporate bond trading and derivatives trading; and debt research services. In addition, ICICI Securities provides research, sale, and trading services related to equities markets. Further, the company deals in securities markets transactions in the United States, as well as provides research and investment advice to the U.S. investors. Additionally, it offers corporate advisory services in the United Kingdom and Singapore. Today ICICI Securities Ltd is the largest equity house in the country providing end-to-end solutions (including web-based services) through the largest non-banking distribution channel so as to fulfill all the diverse needs of retail and corporate customers. ICICI Securities (I-Sec) has a dominant position in its core segments of its operations - Corporate Finance including
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Equity Capital Markets Advisory Services, Institutional Equities, Retail and

Financial Product Distribution. With a full-service portfolio, a roster of blue-chip clients and performance second to none, we have a formidable reputation within the industry. Today ICICI Securities is among the leading Financial Institutions both on the institutional as well as retail side. Headquartered in Mumbai, I-Sec operates out of several locations in India. ICICI Securities Inc., the stepdown wholly owned US subsidiary of the company is a member of the National Association of Securities Dealers, Inc. (NASD). As a result of this membership, ICICI Securities Inc. can engage in permitted activities in the U.S. securities markets. These activities include Dealing in Securities and Corporate Advisory Services in the United States and providing research and investment advice to US investors. ICICI Securities Inc. is also registered with the Financial Services Authority, UK (FSA) and the Monetary Authority of Singapore (MAS). The company is based in Mumbai, India. ICICI Securities, Ltd. operates as a subsidiary of ICICI Bank Limited.
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ICICI PRUDENTIAL LIFE INSURANCE
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank - one of India's foremost financial services companies-and Prudential plc - a leading international financial services group headquartered in the United Kingdom. Total capital infusion stands at Rs. 47.80 billion, with ICICI Bank holding a stake of 74% and Prudential plc holding 26%.

We began our operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). Today, our nationwide team comprises of 2099 branches (inclusive of 1,116 microoffices), over 276,000 advisors; and 18 bancassurance partners. ICICI Prudential is the first life insurer in India to receive a National Insurer Financial Strength rating of AAA (Ind) from Fitch ratings. For three years in a row, ICICI Prudential has been voted as India's Most Trusted Private Life Insurer, by The Economic Times - AC Nielsen ORG Marg survey of 'Most Trusted Brands'. As we grow our distribution, product range and customer base, we continue to tirelessly uphold our commitment to deliver worldclass financial solutions to customers all over India.
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ICICI VENTURE
ICICI Venture is one of the largest and most successful private equity firms in India with funds under management in excess of USD 2 billion. ICICI Venture, over the years has built an enviable portfolio of companies across sectors including pharmaceuticals, Information Technology, media, manufacturing, logistics, textiles, real estate etc thereby building sustainable value. It has several “firsts” to its credit in the Indian Private Equity industry. Amongst them are India’s first leveraged buyout (Infomedia), the first real estate investment (Cyber Gateway), the first mezzanine financing for a

acquisition (Arch Pharmalabs) and the first ‘royalty-based’ structured deal in Pharma Research & Development (Dr Reddy’s). ICICI Venture is a subsidiary of ICICI Bank, the largest private sector financial services group in India.
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ICICI LOMBARD
ICICI Lombard is a leading insurance company that is a joint undertaking between two major organizations - ICICI Bank Limited and Fairfax Financial Holdings Limited, a Canada based company. They have a share amount of 74:26. ICICI Lombard has received approvals from various pioneer organizations of finance world. This ISO 9001: 2000 certified company is the first general insurance company in India. ICICI Lombard General Insurance Company Limited offers the best insurance coverage and provides extensive customer care services. With its registered office at Mumbai, ICICI Lombard is spread all over the country. This insurance company has its office at 65 different locations of India. ICICI Lombard is the leading private general insurance company in India. It is known for its simple and quick documentation. Its claim to fame is its extremely fast mode of settlement. Online policies are offered almost instantly. The product line of ICICI Lombard General Insurance Company Limited is extensive and covers almost all the fields. The security system of the data transfer is made tight by 128-bit encryption.

It is the first company to have online interface for providing digitally signed documents.
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This Insurance Company has been honored with numerous prestigious awards. It received the following awards: • Economic Times Avaya Global Connect Customer Responsiveness Award 2006 • Best Housing Insurance in the Smart Living Awards by 360 degrees, a Times of India Group subsidiary, in Nov 2006 • Gold Shield for "Excellence in Financial Reporting" by the ICAI (Institute of Chartered Accountants of India), 2006 • General Insurance Company of the Year at the 10th Asia Insurance Industry Awards ICICI Lombard offers a range of products and services, which include: • Health Insurance • Home Insurance • Motor Insurance • Overseas Travel insurance • Student Medical Insurance • Domestic Travel Insurance • Fire Insurance • Marine Insurance • Industrial Insurance • Corporate Insurance • Liability Insurance • Credit Insurance
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Shop Insurance

CHAPTER- 2 PRODUCTS
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PRODUCTS OF ICICI BANK

ICICI Bank offers a wide range of banking products and financial services to dynamic.) ICICI Bank is also the largest issuer of credit cards in India. corporate and retail customers through a variety of delivery channels and specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. (These data are

PRODUCTS OF ICICI BANK
TYPES OF ACCOUNTS 1. SAVING ACCOUNT
A Savings Account for everyone with a host of convenient features and banking channels to transact through. So now you can bank at your convenience, without the stress of waiting in queues. We service savings accounts with 8 to 8 banking and ‘out of branch’ banking 26 2. LIFE PLUS SENIOR CITIZEN SAVING ACCOUNT
We understand that a Savings Account needs to do more after you reach the age of seniority; we understand your concerns for safety and security. We have an ideal Savings Bank Service for those who are 60 years and above. The Senior Citizen Services from ICICI Bank has several advantages that are tailored to bring more convenience and enjoyment in your life.

3.

YOUNG STAR SAVING ACCOUNT It's really important to help children learn the value of finances and money management at an early age. Banking is a serious business, but we make banking a pleasure and at the same time fun. Children learn how to manage their personal finances. 27 4. RECURRING DEPOSIT ACCOUNT When expenses are high, you may not have adequate funds to make big investments. An

ICICI Bank Recurring Deposit lets you invest small amounts of money every month that ends up with a large saving on maturity. So you enjoy twin advantagesaffordability and higher earnings 4.FIXED DEPOSIT ACCOUNT
Safety, Flexibility, Liquidity and Returns!!!! A combination of unbeatable features of the Fixed Deposit from ICICI Bank.

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LOANS 1.HOME LOANS
The No. 1 Home Loans Provider in the country, ICICI Bank Home Loans offers some unbeatable benefits to its customers - Doorstep Service, Simplified Documentation and Guidance throughout the Process. It's really easy ! 2.PERSONAL LOAN If you're looking for a personal loan that's easy to get, your search ends here. ICICI Bank Personal Loans are easy to get and absolutely hassle free. With minimum documentation you can now secure a loan for an amount upto Rs. 15 lakhs. 29 3.CAR LOAN The most preferred financier for car loans in the country. Network of more than 1000 channel partners in over 200 locations. Tie-ups with all leading automobile manufacturers to ensure the best deals. 4.COMMERCIAL VEHICAL LOAN Range of services on existing loans & extended products like funding of new vehicles, refinance on used vehicles, balance transfer on high cost loans, top up on existing loans, Xtend product, working capital loans & other banking products. 30 5.FARM EQUIPMENT LOAN Preferred financier for almost all leading tractor manufacturers in the country. Flexible repayment options in tandem with the farmer's seasonal liquidity. Monthly, Quarterly and Half-yearly repayment patterns to choose from. Comfortable repayment tenures from 1 year to 9 years.

6.BUSINESS INSTALMENT LOAN
Business Installment Loan (BIL) helps the entities take a giant strides by fulfilling their business requirements, be it working capital requirement, business expansion or to grab that once in a lifetime business opportunity. 31

CARDS
1.CREDIT CARD Credit Cards give you a smart way to shop, and offer you flexibility and convenience in managing your finances. ICICI Bank credit cards provide a host of exciting offers and benefits such as low interest rates, rewards programs, and a high credit and cash limit. We offer different types of credit card to suit the different needs and requirements for added features. 2.TRAVEL CARD 32 Presenting ICICI Bank Travel Card. The Hassle Free way to Travel the world. Traveling with US Dollar, Euro, Pound Sterling or Swiss Francs; Looking for security and convenience; take ICICI Bank Travel Card. Issued in duplicate. Offers the Pin based security. Has the convenience of usage of Credit or Debit card. 3.DEBIT CARD The ICICI Bank Debit Card is a revolutionary form of cash that allows customers to access their bank account around the clock, around the world. The ICICI Bank Debit Card can be used for shopping at more than 3.5 Lakh merchants in India and 24 million merchants worldwide. 4.COMMERCIAL CARD 33 ICICI Bank Commercial Cards have been designed as payment solutions for large & mid-sized organizations. A widely accepted concept internationally, Commercial Cards help to better streamline payment processes & thus increase efficiencies. 5.MERCHANT SERVICE Give your customer quick and convenient ways to make payments. with ICICI bank's two

payment acceptance solution, enjoy business like never before. POS Machine at your retail establishment will assist you to accept cards. Payseal, online payment gateway will make e-commerce more convenient, easy and secure on internet... your business can only get even bigger and better 34

LIFE INSURANCE 1.INVESTMENT & SAVING PLANS 2.RETIREMENT PLANS
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3.CHILD PLANS 1.INVESTMENT & SAVING PLANS
Endowment policies are a good way of putting aside your savings today for a future goal - whether it's to buy a house in India or fund your entrepreneurial vision. Our savingsoriented policies are designed to make your savings grow and have them available to you at the end of a fixed number of years or through the term of the plan. LifeTime II - A complete market-linked insurance plan that adapts itself to your changing protection and investment needs, throughout a lifetime. Investshield Gold - A unit-linked insurance plan with an assurance of Capital Guarantee*, which offers you the benefit of a limited premium payment and coverage term. 36 Premier Life - A market linked insurance plans that meets your Investment and Protection needs.

2.RETIREMENT PLANS
Many of us picture ourselves enjoying the fruits of our labour after retirement - going on a dream vacation, or helping our child's career take wing. Financing all this will depend on our personal savings and investments, so its important to save for the future from today. Our retirement plans are designed to help you systematically save, so that you can enjoy all the things you have dreamed of when you retire. LifeTime Pension II - A regular premium linked deferred pension plan that gives you the

freedom to choose the amount of premium, and invest in market-linked funds, to generate potentially higher returns. 37

3.CHILD PLANS
As a responsible parent, you want to ensure a hassle-free, successful life for your child. However, life is full of uncertainties and even the best-laid plans can go wrong. SmartKid Education Plans are designed to provide flexibility and to safeguard your child's future education and lifestyle, taking all possibilities into account.SmartKid Child Plans has a bouquet of three products which can help you secure your child's education. - Unit-linked Regular Premium - Unit-linked Single Premium - Regular Premium SmartKid 38

DEMAT SERVICE Feature of demat service:
E-Instructions: You can transfer securities 24 hours a day, 7 days a week through Internet & Interactive Voice Response (IVR) at a lower cost. Now with "Speak to transfer", you can also transfer or pledge instructions through our customer care officer. Consolidation Demat Account: Dematerialise your physical shares in various holding patterns and consolidate all such scattered holdings into your primary demat account at reduced cost. Digitally Signed Statement: Receive your account statement and bill by email. 39 Corporate Benefit Tracking: Track your dividend, interest, bonus through your account statement. CONTD……. Mobile Request: Access your demat account by sending SMS to enquire about Holdings, Transactions, Bill & ISIN details. Mobile Alerts: Receive SMS alerts for all debits/credits as well as for any request which cannot be processed.

• Dedicated customer care executives specially trained at our call centre, to handle all your queries. • Countrywide network of over 300 branches, you are never far from an ICICI Bank Demat Services outlet. 40

TARGET CUSTOMERS
ICICI Bank decided to target India’s burgeoning middle class and corporate segment by offering a high level of customer service and efficiency that rivaled the foreign banks, on a much larger scale, at a lower cost. A crucial aspect of this strategy was the emphasis on technology.

BRANCHES

Bank has total assets of about USD 100 billion (at the end of March 2008), a network of over 1,399 branches, 22 regional offices and 49 regional processing centres, about 4,485 ATMs (at the end of September 2008), and 24 million customers (at the end of July 2007).
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COMPETITORS

Top ICICI Bank Competitors are:

• STATE BANK OF INDIA • PUNJAB NATIONAL BANK • CANARA BANK

STATE BANK OF INDIA Managing Director and Group Executive (Corporate Banking): Tara Shankar (T.S.) Bhattacharya Chairman:O. P. Bhatt Industry Information Sector: Financial Industry: Foreign Regional Banks
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State Bank of India is the nation's largest and oldest bank. Tracing its roots back some 200 years to the British East India Company (and initially established as the Bank of Calcutta in 1806), the bank operates more than 15,000 branches within India, where it also owns majority stakes in six associate banks. State Bank of India (SBI) has more than 80 offices in nearly 35 other countries, including multiple locations in the US, Canada, and Nigeria. The bank has other units devoted to capital markets, fund management, factoring and commercial services, credit cards, and brokerage services. The Reserve Bank of India owns about 60% of State Bank of India.

Contact Information Address: Central Office, 8th Fl., Madame Cama Road Mumbai 400021, India Phone: +91-22-2288-3888 Fax: +91-22-2285-5348 PUNJAB NATIONAL BANK Chairman and Managing Director: Satish C. Gupta Industry Information: Sector: Financial Industry: Foreign Regional Banks
Punjab National Bank (PNB) is one of India's largest nationalized banks, with some 4,500 locations. The financial institution offers services in personal and corporate banking, including industrial, agricultural, and export
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finance, as well as international banking. Its personal lending services include loans for housing, autos, and education. PNB's diverse client list

includes Indian conglomerates, small and mid-sized businesses, non-resident Indians, and multinational companies. The bank was established in Lahore in 1895 -- before the country was partitioned into India and Pakistan in 1947.

Contact Information Address: 7 Bhikaji Cama Place New Delhi 110066, India Phone: +91-11-2617-6297 CANARA BANK Chairman and Managing Director: A. C. Mahajan Industry Information: Sector: Financial Industry: Foreign Regional Banks
Canara Bank has a can-do attitude about banking in India. One of India's largest banks, Canara Bank (also known as CanBank) has a network of more than 2,500 branches throughout India and branches in Hong Kong and London. All of Canara Bank's branches -- including those located in rural areas -- are computerized, in a country where it is not a given that banks can make such a claim. (The bank considers 30% of its branches to be located in rural areas.) The modernization of all branches allows the bank to offer its customers networked ATMs, telebanking, internet banking, and debit card
44

services. Other services include asset management and factoring. The financial institution is 73% owned by India's government.

Contact Information Address:

112 J C Rd. Bangalore, Karnataka 560002, India Phone: +91-80-2224-8831
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MARKET SHARE The fact that the top 8 banks account for barely 54 per cent of the market share suggests that several smaller players occupy the remaining 46 per cent.
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FY04 (Rs bn) Advances Market share SBI 1,955 22.7% ICICI Bank 631 7.3% Canara Bank 476 5.5% PNB 472 5.5% Bank of India 458 5.3% Bank of Baroda 356 4.1% HDFC Bank 177 2.1% Standard Chartered 162 1.9% Total 4,687 54.4% POSITIONING
ICICI Bank positioned itself as technology-savvy, customerfriendly bank. To support its technology-focused strategy, ICICI Bank needed a robust technology platform that would help it achieve its business goals. After an intense evaluation of several global vendors, ICICI Bank identified Infosys as its technology partner and selected Finacle, the universal banking solution from Infosys, as its core banking platform. An open systems approach and

low Total Cost of Ownership (TCO) were some of the key benefits Finacle offered the bank. Unlike most banks of that era, ICICI Bank was automated from day one, when its first branch opened in the city of Chennai. ICICI Bank was set up when the process of deregulation and liberalization had just begun in India, and the Reserve Bank of India (India’s central bank) had paved the way for private players in the banking sector, which at that time was dominated by state-owned and foreign banks. Serving a majority of the country’s populace, state-owned banks had a large branch network, with minimal or no automation and had little focus on service. Foreign banks, on the other hand, deployed high-end technology, had innovative product offerings, but had a very small branch network that serviced only corporates and individuals with high net-worth.
47

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48 Shahrukh Khan.

CHAPTER-3 FINANCIAL INFORMATION
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STOCK EXCHANGE

ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).

Lists of Exchanges
Bangalore Stock Exchange Ltd. Calcutta Stock Exchange Association Ltd. Cochin Stock Exchange Ltd Delhi Stock Exchange Assoc. Ltd Inter-connected Stock Exchange of India Ludhiana Stock Exchange Assoc. Ltd. Madras Stock Exchange Ltd., National Stock Exchange of India Ltd. Over The Counter Exchange Of India Ltd The Stock Exchan of Mumbai assoc Ltd Uttar Pradesh Exchange Assoc Ltd.
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WEIGHTED INDEX
51 Company Weight in Sensex Weight in Nifty Variance Promoter holdings (%)

Infosys Technologies 8.66 3.79 4.87 16.49 Reliance Industries 17.41 12.95 4.46 49.03 ICICI Bank 5.74 2.13 3.61 0 Larsen & Toubro 5.61 2.31 3.3 0 HDFC 5.41 2.37 3.04 0 ITC 6.47 3.44 3.03 0 HDFC Bank 5.08 2.22 2.86 19.38 Wipro 1.06 1.97 -0.91 79.32 DLF 0.75 1.85 -1.1 88.55 ONGC 4.63 8.6 -3.97 74.14

NTPC 2.98 7.4 -4.42 89.5

CAPITAL STRUCTURE
From Year To Year Class Of Share Authorized Capital Issued Capital Paid Up Shares (Nos) Paid Up Face Value Paid Up Capital 2007 2008 Equity Share 1,275.00 1,112.69 1112687495 10 1,112.69 2006 2007 Equity Share 1,000.00 899.27 899266672 10 899.27 2005 2006 Equity Share 1,000.00 153.84 153844503 10 153.84 2005 2006 Equity Share 1,000.00 889.82 889823901 10 889.82 2004 2005 Equity Share 1,550.00 616.39 350000000 10 350.00 2004 2005 Equity Share 1,550.00 616.39 616391905 10 616.39 2003 2004 Equity Share 1,550.00 613.02 613021301 10 613.02 2001 2002 Equity Share 300.00 220.36 220358680 10 220.36 2000 2001 Equity Share 300.00 196.82 196818880 10 196.82 1999 2000 Equity Share 300.00 196.82 196818880 10 196.82 1997 1999 Equity Share 300.00 165.00 165000700 10 165.00 1995 1997 Equity Share 300.00 150.00 150000700 10 150.00 1994 1995 Equity

Share 300.00 150.00 150000000 7 105.00 1994 1995 Equity Share 300.00 150.00 700 10 52

BALANCE SHEET(2006-2008)

Balance Sheet (Rs. in millions) Liabilities March2008 (12 Months) March2007 (12 Months) March2006 (12 Months) Share Capital 14,626.79 12,493.44 12,398.35 Reserves & Surplus 453,575.31 234,139.21 213,161.57 Net Worth (1) 468,202.10 246,632.64 225,559.92 Secured Loans (2) 656,484.34 512,560.26 385,219.14 Unsecured Loans (3) 2,444,310.50 2,305,101.86 1,650,831.71 Total Liabilities(1+2+3) 3,568,996.94 3,064,294.77 2,261,610.77 Assets March2008 (12 Months) March2007 (12 Months) March2006 (12 Months) Fixed Assets Gross Block 70,360.04 62,985.63 59,685.65 (-) Acc. Depreciation 29,271.06 23,751.40 19,878.54 Net Block (A) 41,088.98 39,234.23 39,807.12 Capital Work in Prgs. (B) 0.00 1,896.63 1,479.42 Investments (C) 1,114,543.42 912,578.42 715,473.94 Current Assets, Loans & Advs. Inventories 0.00 0.00 0.00 Sundry Debtors 0.00 0.00 0.00 Cash And Bank 380,411.29 371,213.25 170,402.25 Loans And Advances 2,461,907.08 2,121,658.60 1,586,726.82 (i) 2,842,318.37 2,492,871.85 1,757,129.06

Current Liab. & Provs. Current Liabilities 400,673.68 358,817.11 238,016.23 Provisions 28,280.15 23,469.25 14,262.55 (ii) 428,953.83 382,286.36 252,278.78 Net Curr. Assets (i ii) (D) 2,413,364.55 2,110,585.49 1,504,850.28 Misc. Expenses (E) 0.00 0.00 0.00 Total Assets (A+B+C+D+E) 3,568,996.94 3,064,294.77 2,261,610.77

Quarterly Results (Rs. in Millions)
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Quarterly Results (Rs. in Millions)
December2008 [3 Quarter] September2008 [2 Quarter] December2007 [3 Quarter]

Sales Turnover 78360.80 78349.80 79117.70 Other Income 25145.40 18773.30 24265.90 Total Income 103506.20 97123.10 103383.60 Total Expenditure 17341.10 17400.40 21276.10 Operating Profit 86165.10 79722.70 82107.50 Interest 58456.70 56873.60 59520.80 Gross Profit 27708.40 22849.10 22586.70 Depreciation 0.00 0.00 0.00 Tax 4909.90 3471.70 2681.20 ReportedPAT 12721.50 10142.10 12302.10 Equity Capital 11132.90 11132.90 11122.70 Extra Ordinary Items 0.00 0.00 0.00 Adjusted Profit After Extra Ordinary Item 12721.50 10142.10 12302.10 Book Value 417.43 417.43 0.00 EPS 11.43 9.11 11.06 Dividend 0.00 0.00 0.00

Quarterly Results (in %)
Quarterly Results (in %)
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% Change over September, 2008 % Change over

December, 2007 Sales Turnover 0.01 -0.96 Other Income 33.94 3.62 Total Income 6.57 0.12 Total Expenditure -0.34 -18.49 Operating Profit 8.08 4.94 Interest 2.78 -1.79 Gross Profit 21.27 22.68 Depreciation 0.00 0.00 Tax 41.43 83.12 ReportedPAT 25.43 3.41 Equity Capital 0.00 0.09 Extra Ordinary Items 0.00 0.00 Adjusted Profit After Extra Ordinary Item 25.43 3.41 Book Value 0.00 0.00 EPS 25.47 3.35 Dividend 0.00 0.00

RATIO ANALYSIS
Ratios Profitability March- 2008March- 2007March- 2006
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Ratios % (12 months) (12 months) (12 months) Operating Profit Margin 14.45 13.33 18.66 Gross Profit Margin 12.99 11.41 15.10 Net Profit Margin 10.51 10.81 14.12 Turnover Ratios Inventory Turnover Ratio 0.00 0.00 0.00 Debtor Turnover Ratio 0.00 0.00 0.00 Fixed Asset Turnover Ratio 5.61 4.52 2.93

Solvency Ratio Current Ratio 0 .73 0 .62 0 .62 Debt Equity Ratio 5.22 9.35 7.32 Interest Covering Ratio 0 .24 0 .23 0 .34 Performance Ratio % Return On Investment 1.95 1.48 1.74 Return On Networth 8.94 12.79 11.43 Dividend Yield 33.12 33.89 34.08

SHARE HOLDING PATTERN
56 57

Holder's Name No of Shares % Share Holding Directors 914352 0.08% OtherCompanies 52612667 4.73% ForeignNRI 5389371 0.48% ForeignOcb 50060 0.00% ForeignOthers 10529566 0.95% ForeignInstitutions 409979962 36.83% ForeignIndustries 3790 0.00% Other s 304852852 27.38% NBanksMutualFunds 88067601 7.91% GeneralPublic 82265782 7.39% FinancialInstitutions 158584639 14.25%

CHAPTER-4 HUMAN RESOURCES & HR POLICIES
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ORGANITION STRUCTURE
An organization structure as an integral part of a system or a group. It has to accept the

discipline and regulatory ethics of the system/group. It has also to compete within the group and strive to excel in its performance. An organization structure also operates with in a social, economic and political environment We believe that the structure of an organization needs to be dynamic, constantly evolving and responsive to changes both in the external and internal environments. Our organizational structure is designed to support our business goals, and is flexible while at the same time ensuring effective control and supervision and consistency in standards across business groups. 59

NUMBER OF EMPLOYEES
Total number of employees in the organition are 25479 60

HR POLICIES
HR systems and policies are thereby designed to unleash the latent capability of our people by fostering a continuous learning and performance based culture where our people have the opportunity to grow and succeed and realize their true potential while delivering high quality services.  To achieve these objectives our HR Policy is pivotal and aims  Achieve organizational and business goals with firm belief that "Our Employees are our Future".  Have empowered and accountable employees to take decisions in response to emerging challenges and opportunities in a competitive environment.  Endeavor to make our employees "The Best" with an urge for and commitment to excellence
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RECRUITMENT PROCESS
In ICICI Bank RECRUITMENT PROCESS at all levels , we have carried out an indepth study of the competencies required to succeed in ICICI Bank which are called the ICICI Bank DNA anchors. As per our research, the DNA anchors which indicated success at the entry level in ICICI Bank are: • Customer first • Passion • Dynamism • Compliance with conscience In order to assess the same we use a set of tools a. Aptitude Tests (for applicants with 0-2 years of work experience). The tests are designed to assess basic aptitude of candidates including numerical comprehension, verbal comprehension, logical reasoning and basic checking abilities. These are important skills for the role of an entry-level manager and people who do well in these tests tend to do well in their jobs at ICICI Bank. The total time taken in this exercise is 55 minutes. b.Occupational Personality Questionnaire. Applicants are also required to complete the Occupational Personality Questionnaire (OPQ) before they appear for the selection, the results of which are integrated into our selection process. 62

SELECTION PROCEDURE
The selection process at all levels in ICICI Bank, they have carried out an indepth study of the competencies required to succeed in ICICI Bank. As per ICICI research, the competencies which indicated success at the entry level in ICICI Bank are: Drive for results Process Orientation Interpersonal Effectiveness Analytical Thinking Innovation & Team Effectiveness In order to assess the same ICICI use a set of 3 tools A Mental Ability Tests (for candidates with 0-2 years of work experience) a Personality profiling system

The Mental Ability Test to find a fair and objective assessment of candidates’ skills in the areas of verbal reasoning, numerical reasoning & diagrammatic reasoning. These are important skills for the role of an entry level manager and people who do well in these tests tend to do well in their jobs at ICICI Bank. The total time taken in this exercise is 2 hours with each of the three sections lasting 40 minutes. Candidates (at all levels regardless of the number of years of work experience) are also required to complete the Occupational Personality Questionnaire (OPQ ) before they appear for the interview, the results of which are integrated into ICICI interview process. 63

SWOT ANALYSIS OF ICICI BANK
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SWOT ANALYSIS: SWOT analysis is done for a company, to find out its overall Strengths, Weaknesses, Threats and opportunities leading to gauging the competitive potential of the company. The SWOT Analysis enables a company to recognize its market standing and adopt strategies accordingly. Here SWOT analysis of ICICI bank is made to understand the positioning of the bank better:
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STRENGTHS

1. BRAND NAME: ICICI Bank has earned a reputation in the market for extending quality services to the market vis-à -vis its competitors. It has earned a strong Brand name in banking in a very short span of time. 2. MARKET SHARE: ICICI Bank has the largest market share of 34% in the IT & ITES industry in Hyderabad according to our survey (within the limitation of the sample size.) 3. HUGE NETWORK: ICICI Bank has the highest number of linked branches in the country. The bank operates through a network of 450 BRANCHES AND over 1800 ATMs across India, thus enabling them to serve customer in better way. 4. DIVERSIFIED PORTFOLIO: ICICI Bank has all the products under its belt, which help it to extend the relationship with existing customer. ICICI Bank has umbrella of products to offer their customers, if once customer has relationship with the bank. Some Products, which ICICI Bank is offering are: • Retail Banking • Business Banking • Merchant Establishment Services (EDC Machine) • Personal loans & Car loans 66 • Demat Services with E-Broking • Mutual Fund (ICICI Bank is the Distributor of all Mutual Fund) • Insurance • Housing Loans 5. SALARY ACCOUNT: One very interesting thing that we have observed in our survey is that ICICI is having an edge over other banks in case of Salary Account. Most of the companies are having their Salary Account with ICICI even if their Current Account is with any other Bank. This is mainly because of the huge network of ATMs and branches of ICICI. 6. WORKING HOURS: ICICI is the only bank which is having its working hours from 8 to 8 which is one of the major strength of ICICI Bank with respect to IT & ITES Industry. As most of the IT & ITES companies are global players and their Parent company is in US, so they have to work according to their office time. Thus some have

their Office time in the morning and some have it in the evening so if the working hour of the bank is 8 to 8 it is very convenient for them. 7. TREASURY DEPARTMENT: ICICI is the only bank which is having its treasury department especially for Hyderabad Customers. So customers can get the best rates for foreign exchange. 8. AGGRESSIVE MARKETING: ICICI Bank is known for its aggressive marketing of its products. Recent Endorsement of its product by AMITABH BAHCHAN proves the same. This gives ICICI an edge over other banks. 67 9. TECHNOLOGY: From its inception, ICICI Bank has adopted a policy of selecting internationally proven and specialized Packaged Systems for its technology. ICICI bank’s technology platform has been acknowledged globally as one of the best in terms of robustness, flexibility and cost efficiency. ICICI Bank is in a position to leverage this platform to further build cost and service advantage.

WEAKNESS

1. TRANSACTION COST: ICICI Bank charges high cost for its transactions. Through our data analysis we have find out that most of the small companies prefer nationalized banks only because of this cost factor. Also the group has found out that there are companies which are going for multi bank system i.e. they are using only those facilities of ICICI Bank which are provided at cheaper rates (read Salary Account) and for other services they are going to nationalize banks and MNCs (read Forex). So there exists a huge potential for ICICI Bank if they are ready to make their transaction cost flexible. 2. FOCUS ONLY ON HIGH END CUSTOMERS: The bank targets only the top bracket of clients and does not cater to the needs of small customers. Due to this reason the bank may sometimes loose good clients. 3. DEFENSIVE APPROACH IN LENDING: ICICI Bank has a defensive approach in

lending. Mainly to IT & ITES companies Bank do not provide loan as these companies are not having collaterals so bank hesitate in giving loans to them. Because of this policy companies prefer nationalized banks and ICICI Bank in turn sometimes loose potential customers. 4. LITTLE PRESENCE OUTSIDE INDIA: ICICI Bank is having little presence Outside India, because of which companies are preferring MNC Bank, mainly Citibank. So if ICICI Bank tries to emerge outside India then it has a huge potential of customers. 68 5. POOR CUSTOMER CARE/SERVICE: With its aggressive marketing ICICI Bank is rapidly increasing its customer base. They are not however, increasing the number of employees accordingly. This is leading to deterioration of the standard of customer service.

OPPORTUNITIES

1. NEW IT & ITES COMPANIES: IT & ITES sector is on a boom in the Indian market context, with new companies mushrooming in the market; it opens the door for ICICI bank to capture the huge untapped market. 2. Dissatisfied Customers of Other Banks: The group from its survey and analysis of IT companies have found out that there are many companies which are not satisfied with its current bank, so ICICI with its superior service quality and long working hours can capture those customers. 3. Remittances: From the analysis group has also found out that ICICI bank has very little presence as far as the EEFC account is concerned. Companies prefer to bank with MNCs (which have greater presence in the foreign countries) and nationalized banks (which according to the companies provide lower transaction rates) to get their inward remittances in spite of ICICI being providing one of the most competitive rates. So the

bank can promote its EEFC account better and get the key to the door of huge potential market. 69 4. Business advising for smaller Players: The analysis has also indicated that the concept of business advising though very popular with the higher end players is virtually non existent in the lower end of the market. ICICI should take this opportunity to provide business advising to the smaller companies at competitive rates and try to take the first mover advantage.

THREATS

1) Advent of MNC banks: Large numbers of MNC banks are mushrooming in the Indian market due to the friendly policies adopted by the government. This can increase the level of competition and prove a potential threat for the market share of ICICI bank. 2) Dissatisfied Customers: The analysis indicated that though most of the companies are satisfied with the products offered by ICICI bank but the poor customer support/ service is creating a lot of dissatisfaction among the customers, this can prove to be a serious problem as far as the market reputation of the bank is concerned and cane be a major threat in future business acquisition. 3) Ever improving nationalized banks: With PSU banks like SBI going all out to compete with the private banks and government giving them a free hand to do so, it can prove to be serious threat for banks like ICICI. 70

BIBLIOGRAPHY WWW.GOOGLE.COM WWW.ICICIBANK.COM WWW.WIKIPEDIA.COM
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