Icici Bank
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Industrial Credit and Investment Corporation of India) is Indias largest private sector bank in market capitalization and second largest overall in terms of assets. ICICI Bank has total assets of about USD 79 Billion (end-Mar 2007), a network of over 950 branches and offices. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Banks equity shares are listed in India on stock exchanges at Kolkata and Vadodara, the Stock Exchange, Mumbai and the National Stock Exchange of India Limited and its ADRs are listed on the New York Stock Exchange (NYSE).
History
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The World Bank, the Government of India and representatives of Indian industry formed ICICI Limited as a development finance institution to provide medium-term and long-term project financing to Indian businesses in 1955.
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1994 ICICI establishes ICICI Banking Corporation as a banking subsidiary. ICICI Banking Corporation is renamed as ICICI Bank Limited
1999 ICICI becomes the first Indian company and the first bank or financial institution from non-Japan Asia to list on the NYSE.
2002 The Boards of Directors of ICICI and ICICI Bank approve the merger of ICICI, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. After receiving all necessary regulatory approvals, ICICI integrates the groups financing and banking operations, both wholesale and retail, into a single entity. Also, ICICI Bank bought the Shimla and Darjeeling branches that Standard Chartered Bank had inherited when it acquired Grindlays BanK
2003 ICICI opens subsidiaries in Canada and the United Kingdom (UK), and in the UK it establishes alliance with Lloyds TSB. It also opens an Offshore Banking Unit (OBU) in Singapore and representative offices in Dubai and Shanghai.
ICICI Bank now has the largest market share among all banks in retail or consumer financing. ICICI Bank is the largest issuer of credit cards in India [1]. It was the first bank to offer a wide network of ATMs and has a large network of ATMs.
ICICI Bank also has the largest market value of all banks in India, and is widely seen as a sophisticated bank able to take on many global banks in the Indian market.
K. V. Kamath (born December 2, 1947) is the Managing Director and CEO of ICICI Bank, the largest private bank in India. He is an alumnus of prestigious educational institutions of India like the Karnataka Regional Engineering College, now known as National Institute of Technology Karnataka, Surathkal, and the Indian Institute of Management Ahmedabad. He is the recipient of the Asian Business Leader of the Year prize awarded at the Asian Business Leader Award 2001, organised by the business television network CNBC Asia. Kamath is known to be a fast decision maker and an efficient worker. According to an anecdote at the Indian Institute of Management, Ahmedabad campus, he used to finish the assignments for the WAC (Written Analysis and Communication) course well before the deadline. WAC course assignments at IIM Ahmedabad stretch the very best minds, and students usually put a “night-out” the day before the assignment is due for submission. Mr. Kamath used to submit his papers on Tuesday for a Saturday deadline.
Mr. K. Vaman Kamath is the Managing Director and Chief Executive Officer of ICICI Bank Limited. ICICI Bank (NYSE: IBN) functions as a universal bank through itself and its associate companies in the areas of corporate finance,