ICICI Bank Limited is a major banking and financial services company based in Mumbai. It is the second largest bank in India and the largest private sector bank in India by market capitalization. The bank also has a network of 2,529 branches (as on 31 March 2011) and about 6,102 ATMs in India and presence in 19 countries, as well as some 24 million customers (at the end of July 2007). ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and specialization subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. (These data are dynamic.) ICICI Bank is also the largest issuer of credit cards in India. ICICI Bank's shares are listed on the stock exchanges at BSE, NSE, Kolkata and Vadodara(formerly Baroda) ; its ADRs trade on the New York Stock Exchange (NYSE). The Bank is expanding in overseas markets and has the largest international balance sheet among Indian banks. ICICI Bank now has wholly owned subsidiaries, branches and representatives offices in 19 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[5] is operated), offshore banking units in Bahrain and Singapore, an advisory branch in Dubai, branches in Belgium, Hong Kong and Sri Lanka, 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. ICICI reported a 1.15% rise in net profit to 1,014.21 crore on a 1.29% increase in total income to 9,712.31 crore in Q2 September 2008 over Q2 September 2007. The bank's CASA ratio increased to 30% in 2008 from 25% in 2007.[6][7] ICICI Bank is one of the Big Four banks of India, along with State Bank of India, Punjab National Bank and HDFC Bank—its main competitors.


into a single entity. In 2005. ICICI Bank UK opened a branch in Antwerp. The Industrial Credit and Investment Corporation of India Limited (ICICI) was incorporated at the initiative of World Bank. both wholesale and retail. a Russia bank with about US$4mn in assets. Formerly known as Industrial Credit and Investment Corporation of India. car loans etc. ICICI founded a separate legal entity. In 2004. to undertake normal banking operations . Sangli Bank had been founded in 1916 and was particularly strong in rural areas. Jakarta. with the objective of creating a development financial institution for providing medium-term and long-term project financing to Indian businesses.HISTORY In 1955. ICICI amalgamated Sangli Bank. 1943). in Maharashtra State. the Government of India and representatives of Indian industry. In 2007. ICICI Banking Corporation was later renamed as 'ICICI Bank Limited'. and Kuala Lumpur. and in the UK it established an alliance with Lloyds TSB. ICICI opened subsidiaries in Canada and the United Kingdom (UK). ICICI Bank. ICICI Bank Eurasia opened a second branch. ICICI acquired Bank of Madura (est. and had acquired Chettinad Mercantile Bank (est. In 1994. credit cards. ICICI acquired Investitsionno-Kreditny Bank (IKB). ICICI renamed the bank ICICI Bank Eurasia. ICICI established Banking Corporation as a banking subsidiary. In 2003.taking deposits. into ICICI Bank. which was headquartered in Sangli. 1933) and Illanji Bank(established 1904) in the 1960s. In 2001. In 2002. head office in Balabanovo in the Kaluga region. Also. The Boards of Directors of ICICI and ICICI Bank approved the reverse merger of ICICI. this 2 KRUPANIDHI BUSINESS SCHOOL . in Belgium. ICICI integrated the group's financing and banking operations. ICICI Personal Financial Services Limited and ICICI Capital Services Limited. With respect to the international sphere. India and South Africa. ICICI also received permission from the government of Qatar to open a branch in Doha. ICICI opened representative offices in Bangkok. Also. ICICI opened a representative office in Bangladesh to tap the extensive trade between that country. and which had 158 branches in Maharashtra and another 31 in Karnataka State. In India. After receiving all necessary regulatory approvals. ICICI started its international expansion by opening representative offices in New York and London. Bank of Madura was a Chettiar bank. and with a branch in Moscow. It also opened an Offshore Banking Unit (OBU) in Singapore and representative offices in Dubai and Shanghai. ICICI Bank bought the Shimla and Darjeeling branches that Standard Chartered Bankhad inherited when it acquired Grindlays Bank. At the same time. ICICI established a branch in Dubai International Financial Centre and in Hong Kong. In 2006.

Mumbai. 3 KRUPANIDHI BUSINESS SCHOOL . CEO:(Mrs. She also heads the Corporate Centre of ICICI Bank. she joined the Jamnalal Bajaj Institute of Management Studies for the Masters Degree in Management Studies. In 1998. She got promotion in 1994 & 1996 as Assistant General Manager and then Deputy General Manager respectively. ICICI also established a branch in Frankfurt. an instant cross-border money transfer option for Non-Resident Indians (NRIs). she was promoted as Executive Director. On 23 May ICICI Bank announced that it would merge with Bank of Rajasthan through a share-swap in a non-cash deal that values the Bank of Rajasthan at about 3. The US Federal Reserve permitted ICICI to convert its representative office in New into a branch. In April 2006. She is the Chief Executive Officer (CEO) and Managing Director (MD) of the bank in May 2009. ICICI made huge changes in its organization like elimination of loss making department and restricting outsourced staff or renegotiate their charges in consequent to the recession. After 9 years of hard work. Petersburg. In addition to this. Kocchar was appointed as part of core team to set the ICICI bank. In 2008.time in St. [9][10][11] On 18h October 2010.000 crore.Chanda Kochhar) Chanda Kochhar was born in November 17. she was promoted as the General Manager with role of handling relationships with ICICI`s top 200 clients. compensation to staff was not increased and no bonus declared for 2008-09. She is currently the Joint Managing Director (JMD) of ICICI Bank. heading the retail business in ICICI Bank. She completed her Bachelor of Arts degree from Jai Hind College. In April 2001. This service will be available through the ICICI Bank's select partners in the Gulf Cooperation Council. Chanda Kochhar joined ICICI as a Management trainee after her Masters in the year 1984. She has two children. 1961 in Jodhpur. ICICI adopted a massive approach aims for cost control and cost cutting. ICICI will inaugurate I-Express. Chanda Kocchar was appointed as Deputy Managing Director of ICICI Bank. In consequent of it. Rajasthan. She is also the bank`s the Chief Financial Officer (CFO) and the official spokesperson & that`s not all. Later. In 2009. ICICI announced that the merger expand ICICI Bank's branch network by 25%. a son and a daughter.

2010.89.000 crore and net advances of about Rs. 30. In 2008 HDFC Bank acquired Centurion Bank of Punjab taking its total branches to more than 1.000 crore. The Bank started operations as a scheduled commercial bank in January 1995 under the RBI's liberalization policies. its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). 2008. in 2000. ICICI is India's second-largest bank.MAIN COMPETITOR HDFC HDFC Bank was incorporated in 1994 by Housing Development Finance Corporation Limited (HDFC).. As of December 31. 3. 63.75 shares of Times Bank.22. boasting an asset value of Rs. 4 KRUPANIDHI BUSINESS SCHOOL . for the nine months. Present Scenario ICICI Bank has its equity shares listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited. 1.14 billion. 1. Times Bank Limited (owned by Bennett. Shareholders of Times Bank received 1 share of HDFC Bank for every 5.000 crore. It was among the first companies to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector.10 billion and profit after tax Rs.744. The amalgamated bank emerged with a base of about Rs. Overseas. The balance sheet size of the combined entity is more than Rs. that ended on December 31. / Times Group) was merged with HDFC Bank Ltd. Coleman & Co.000. India's largest housing finance company. This was the first merger of two private banks in India.

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