ICICI BANK LTD.

About ICICI
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 Bankits main competitors.

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HISTORY
In 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. In 1994, ICICI established Banking Corporation as a banking subsidiary. Formerly known as Industrial Credit and Investment Corporation of India, ICICI Banking Corporation was later 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. In 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. In 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. At the same time, ICICI started its international expansion by opening representative offices in New York and London. In India, ICICI Bank bought the Shimla and Darjeeling branches that Standard Chartered Bankhad inherited when it acquired Grindlays Bank. In 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. In 2004, ICICI opened a representative office in Bangladesh to tap the extensive trade between that country, India and South Africa. In 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 ICICI Bank Eurasia. Also, ICICI established a branch in Dubai International Financial Centre and in Hong Kong. In 2006, ICICI Bank UK opened a branch in Antwerp, in Belgium. ICICI opened representative offices in Bangkok, Jakarta, and Kuala Lumpur. In 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. With respect to the international sphere, ICICI also received permission from the government of Qatar to open a branch in Doha. Also, ICICI Bank Eurasia opened a second branch, this
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time in St. Petersburg. In 2008, The US Federal Reserve permitted ICICI to convert its representative office in New into a branch. ICICI also established a branch in Frankfurt. In 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. In addition to this, ICICI adopted a massive approach aims for cost control and cost cutting. In consequent of it, compensation to staff was not increased and no bonus declared for 2008-09. 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 3,000 crore. ICICI announced that the merger expand ICICI Bank's branch network by 25%. [9][10][11] On 18h October 2010, ICICI will inaugurate I-Express, an instant cross-border money transfer option for Non-Resident Indians (NRIs). This service will be available through the ICICI Bank's select partners in the Gulf Cooperation Council.

CEO:(Mrs.Chanda Kochhar)
Chanda Kochhar was born in November 17, 1961 in Jodhpur, Rajasthan. She completed her Bachelor of Arts degree from Jai Hind College, Mumbai. Later, she joined the Jamnalal Bajaj Institute of Management Studies for the Masters Degree in Management Studies. She has two children, a son and a daughter. She is the Chief Executive Officer (CEO) and Managing Director (MD) of the bank in May 2009. She is currently the Joint Managing Director (JMD) of ICICI Bank. She is also the bank`s the Chief Financial Officer (CFO) and the official spokesperson & that`s not all. She also heads the Corporate Centre of ICICI Bank. Chanda Kochhar joined ICICI as a Management trainee after her Masters in the year 1984. After 9 years of hard work, Kocchar was appointed as part of core team to set the ICICI bank. She got promotion in 1994 & 1996 as Assistant General Manager and then Deputy General Manager respectively. In 1998, she was promoted as the General Manager with role of handling relationships with ICICI`s top 200 clients. In April 2001, she was promoted as Executive Director, heading the retail business in ICICI Bank. In April 2006, Chanda Kocchar was appointed as Deputy Managing Director of ICICI Bank.
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MAIN COMPETITOR HDFC

HDFC Bank was incorporated in 1994 by Housing Development Finance Corporation Limited (HDFC), India's largest housing finance company. 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. The Bank started operations as a scheduled commercial bank in January 1995 under the RBI's liberalization policies. Times Bank Limited (owned by Bennett, Coleman & Co. / Times Group) was merged with HDFC Bank Ltd., in 2000. This was the first merger of two private banks in India. Shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank. In 2008 HDFC Bank acquired Centurion Bank of Punjab taking its total branches to more than 1,000. The amalgamated bank emerged with a base of about Rs. 1,22,000 crore and net advances of about Rs.89,000 crore. The balance sheet size of the combined entity is more than Rs. 1, 63,000 crore.

Present Scenario
ICICI Bank has its equity shares listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited. Overseas, its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). As of December 31, 2008, ICICI is India's second-largest bank, boasting an asset value of Rs. 3,744.10 billion and profit after tax Rs. 30.14 billion, for the nine months, that ended on December 31, 2010.

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Products&Services
Personal Banking

Deposits Loans Cards Investments Insurance Demat Services Wealth Management

NRI Banking

Money Transfer Bank Accounts Investments Property Solutions Insurance Loans

Business Banking

Corporate Net Banking Cash Management Trade Services FXOnline SME Services Online Taxes Custodial Services

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