ICICI Bank – Review and Features

It would not be wrong to say that the banking sector is the backbone of the Indian economy and banks play a vital role in it. ICICI Bank is the second largest bank in the country in terms of market capitalization and net assets. It is also included in the Big Four banks of the country, besides State Bank of India, Bank of Baroda and Punjab National Bank. ICICI Bank was set up in 1994, as a subsidiary of a leading financial institution called Industrial Credit and Investment Corporation of India and has established a trusted reputation in the two decades of impeccable services to clients in India and overseas.

Here are some main features of ICICI Bank:

1.ICICI Bank has its headquarters in Mumbai, Maharashtra and has an extensive network of 4050 branches along with 12642 ATMs spread across the country. Additionally, it boasts of presence in 16 other countries, including USA, Canada, UK, Singapore, Honk Kong, Sri Lanka, UAE, Malaysia, Dubai and South Africa, to name just a few.

  1. It is engaged in providing a wide array of banking and financial services for retail customers as well as corporate sector.
  2. ICICI Bank has a total of 67857 employees working for it through various branches all over the world.
  3. As of 2015, the bank has reported the value of assets as $ 103.4 billion while the profit for the year amounted to $ 1.8 billion.
  4. ICICI Bank was one of the first banks to launch internet banking in India, way back in 1998 and it still excels in terms of standard of services provided by it.
  5. The bank has a number if subsidiaries functioning in India and abroad and engaged in diverse functions such as insurance, asset management, investment and stock brokering. Some of these subsidiaries in India are ICICI Prudential Life Insurance Company Limited, ICICI Lombard General Insurance Company Limited, ICICI Securities Limited, ICICI Home Finance Company Limited, ICICI Prudential Asset Management Company Limited, ICICI Investment Management Company Limited and ICICI Prudential Pension Funds Management Company Limited. Those operating internationally include ICICI Bank USA, ICICI Bank Canada, ICICI Bank UK PLC, ICICI Securities Inc and ICICI International Limited.
  6. ICICI Bank created history by becoming the first Indian bank to be listed on the New York Stock Exchange, a feat it achieved in the year 2000.
  7. In addition to its commitment to proving to class services to its customers, the bank is aware of its social responsibilities too, which it has shown by its Green Initiative. The aim of the initiative is to make a healthy environment along with developing better understanding with the clients. It includes features like mobile banking and waiver on processing fees of car loans on select models which are eco friendly in nature.
  8. It has pioneered in the country in launching its banking services on Twitter, which has been done in 2015.

With excellence of its services and commitment to give nothing but the best, ICICI Bank has reached the pinnacle of popularity and is all set to maintain its position in the coming times too.

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