Background

ICICI Bank Ltd (ICICI Bank) was promoted in 1994 by ICICI Ltd. In 2001, it acquired the business of Bank of Madura and in 2002 ICICI Ltd and its subsidiaries engaged in retail financing were merged with the bank. In 2007, ICICI Bank acquired the business of The Sangli Bank Ltd.

Business Profile

ICICI Bank undertakes retail banking, corporate banking, international banking, project finance, SME financing, rural & agri banking business and treasury operations. Under retail banking it provides deposit & loan accounts and wealth management services. The corporate banking comprises of services like cash management and structured finance. ICICI Bank also distributes products like MFs, life insurance and general insurance. Apart from this the bank provides banking services like money transfer, loans and property solutions for its NRI clients under international banking segment. As on Mar 31 2008, the bank’s total business stood at Rs. 4,700.5 bn and registered a y-o-y growth of over 10%. For FY08, the priority sector advances to RNBC stood at 50.3% whereas agricultural lending to RNBC was 17%. As on Mar 31, 2008 the bank had a network of 1,249 branches and 3,881 ATMs.