ICICI Bank – All about it

Overview

ICICI Bank Limited is one of India’s largest private-sector banks and a diversified financial services group. The bank offers a wide range of products and services in retail banking, corporate banking, investment banking, insurance, asset management, and digital financial solutions. It has been classified by the Reserve Bank of India as a Domestic Systemically Important Bank (D-SIB) due to its size, market reach, and critical role in the financial system.

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History

• 1955: Industrial Credit and Investment Corporation of India (ICICI) established as a development financial institution.
• 1994: ICICI Bank incorporated as a subsidiary of ICICI.
• 2002: Merger of ICICI, ICICI Bank, and retail finance subsidiaries to form the present ICICI Bank Limited.
• Over the years, ICICI Bank expanded internationally and pioneered many technology-driven banking services in India.

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Key Executives

• Sandeep Bakhshi – Managing Director & CEO
• Rakesh Jha – Executive Director
• Anup Bagchi – Executive Director
• Radhakrishnan Nair – Chairman

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Business Segments

1. Retail Banking – Savings/current accounts, loans, credit cards, and personal finance products.
2. Wholesale Banking – Corporate loans, trade finance, treasury, and cash management services.
3. Digital Banking – iMobile Pay, InstaBIZ, WhatsApp Banking, and ICICI Stack.
4. Insurance & Investments – Life, general insurance, mutual funds, and wealth management.
5. International Banking – Subsidiaries, branches, and representative offices in countries including the UK, Canada, US, Singapore, Bahrain, Hong Kong, South Africa, and more.

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Products & Services

• Accounts: Savings, Current, Salary, NRI, Corporate
• Loans: Home, Auto, Personal, Education, Gold, SME
• Cards: Credit Cards, Debit Cards, Prepaid Cards
• Investments: Mutual Funds, Demat, Bonds, NPS, IPO
• Insurance: Life Insurance (ICICI Prudential), General Insurance (ICICI Lombard)
• Digital Solutions: UPI, FASTag, Pockets Wallet, Internet & Mobile Banking
• Capital Markets: Equity & Debt Capital Market Services via ICICI Securities

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Key Figures (FY 2024)

• Branches (India): 7,066
• ATMs: 13,376
• Employees: ~129,000
• Market Cap: ~₹8.2 lakh crore (~USD 99 billion)
• Total Assets: ₹17.52 lakh crore (~USD 210 billion)
• Net Profit: ₹36,000+ crore (~USD 4.3 billion)

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Major Subsidiaries

• ICICI Prudential Life Insurance Company Ltd.
• ICICI Lombard General Insurance Company Ltd.
• ICICI Securities Ltd.
• ICICI Prudential Asset Management Company Ltd.
• ICICI Home Finance Company Ltd.

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Recognition & Awards

• Ranked among Top 5 most valuable Indian companies (2024)
• Multiple awards for digital banking innovations and customer service excellence
• Recognized for strong corporate governance and sustainable finance initiatives

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Corporate Social Responsibility (CSR)

ICICI Bank focuses on financial inclusion, skill development, health, and education through the ICICI Foundation for Inclusive Growth.