ICICI Bank
Company Overview
A B-Gyan Initiative
bgyan@nitie.ac.in
Know Your Company ICICI Bank
INTRODUCTION
ICICI Bank is India's largest private sector bank with total assets of Rs. 7206.95 billion (US$ 108.8
billion) as on March 31. ICICI Bank currently has a huge network of 4,450 Branches and 14,240
ATM's across India.
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was
its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46% through a public
offering of shares in India in fiscal 1998.
ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and
representatives of Indian industry. The principal objective was to create a development financial
institution for providing medium-term and long-term project financing to Indian businesses. In the
1990s, ICICI transformed its business from a development financial institution offering only project
finance to a diversified financial services group offering a wide variety of products and services,
both directly and through a number of subsidiaries and affiliates like ICICI Bank.
In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and
two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services Limited and
ICICI Capital Services Limited, with ICICI Bank.
Mission and Vision
Vision:
To be the leading provider of financial services in India and a major global bank.
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
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Contribute positively to the various countries and markets in which we operate
Create value for our stakeholders
Company Information
Founded in: 1994
Head Quarters: Mumbai, India
Industry: Banking, Financial Services
Key People: Mr. M. K. Sharma (Chairman)
Ms. Chanda Kochhar (MD & CEO)
Revenue: US$ 10.3 billion
Employees: 74096(2016)
Financial Statistics
Operating
Revenue Total Assets Net Profit
Income
$10.3 Billion $3.6 Billion $108.8 Billion $1.5 Billion
Products
a. Credit cards
b. Consumer banking
c. Corporate banking
d. Finance and Insurance
e. Investment banking
f. Mortgage loans
g. Private banking and Wealth management
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Facts about ICICI
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
ICICI Bank launched internet banking operations in 1998
ICICI Bank won an award in the BFSI Leadership Summit & Awards in the 'Best Phone Banking
for End-users’ category in the year 2015
ICICI Bank has been declared as the first runner up at Outlook Money Awards 2015 in the
category of ‘Best Bank’
ICICI Bank has been adjudged the ‘Best Retail Bank in India’ by The Asian Banker. It has also
emerged winners in the categories of ‘Best Internet Banking Initiative’ and ‘Best Customer
Risk Management Initiative’ awards given by The Asian Banker
SWOT Analysis
1. Front runner in the Indian Private Banking Sector
2. Strong presence via its numerous branches
3. High use of technology makes life simpler for the customers
4.Large no. of facilities for the customers in terms of products and
services
Strength
5. Over 75,000 employees
6. Decades of Experience in the Banking sector along with marketing has
added to the brand name
7. Presence in over 19 countries
1. Too much competition in the banking sector affecting employee and
Weakness customer management
2. Many branches in urban areas have led to high cost
1. Opening more branches in the rural areas
Opportunity 2. Use of technology to penetrate rural markets
3. Venturing into countries like Africa where the economy is coming up
1. Ever changing RBI policies
Threats 2. International and other Competitors
3. Inability to adapt to changing conditions due to large size
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ICICI Bank in News
ICICI Bank, announced the launch of ‘Unified Payments Interface’ (UPI) on two of its
customer facing mobile banking applications – ‘Pockets’ and ‘iMobile’. UPI enables bank
account holders (of banks participating in UPI) to send and receive money using a Virtual
Payment Address (VPA) without entering additional bank account details.
ICICI Bank, has added five new industry-first features on its mobile banking app, ‘iMobile’,
taking the total number of services that the users can avail of to over 150. The first-of-its-
kind pioneering features enable the customers to enjoy the convenience of instant tax
payment from within the app, book rail tickets, add an extra layer of security to their cheque
based transactions with ‘Positive Pay’, apply for a personalised Expressions Debit Card and
purchase travel & motor insurance as well as mutual funds.
ICICI Bank Ltd, announced the launch of a unique contest for residential housing societies to
recognise and reward clean and green initiatives in the Mumbai Metropolitan Region (MMR).
Christened, ‘Swachh Society Awards’, the initiative aims at sustaining the spirit of the
‘Swachh Bharat Abhiyan’. Spanning over 50 days, the programme will evaluate, identify and
acknowledge residential societies for their efforts such as energy conservation, rainwater
harvesting, waste management, adoption of clean-green technology among others.
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