[Kavita]

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Hi I would like to have the information about the formation of ICICI Bank as well as the progression made by bank over the years since its formation?

[Vishal Kotkar]

ICICI Bank was initially advanced in 1994 by ICICI Limited, an Indian monetary organization, and was its completely claimed auxiliary. ICICI's shareholding in ICICI Bank was diminished to 46% through an open offering of offers in India in monetary 1998, a value offering as ADRs recorded on the NYSE in financial 2000, ICICI Bank's securing of Bank of Madura Limited in an all-stock amalgamation in monetary 2001, and optional market deals by ICICI to institutional speculators in monetary 2001 and monetary 2002. ICICI was shaped in 1955 at the activity of the World Bank, the Government of India and agents of Indian industry.

After thought of different corporate organizing choices with regards to the rising focused situation in the Indian saving money industry, and the move towards widespread saving money, the administrations of ICICI and ICICI Bank framed the view that the merger of ICICI with ICICI Bank would be the ideal key option for both substances, and would make the ideal legitimate structure for the ICICI gathering's general keeping money methodology.

In October 2001, the Boards of Directors of ICICI and ICICI Bank affirmed the merger of ICICI and two of its entirely possessed retail back auxiliaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was endorsed by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002. Ensuing to the merger, the ICICI gathering's financing and keeping money operations, both discount and retail, have been incorporated in a solitary substance.

It offers an extensive variety of keeping money items and monetary administrations for corporate and retail clients through an assortment of conveyance directs and concentrated backups in the territories of speculation saving money, life, non-life coverage, funding and resource administration. The bank has a system of 4,450 branches and 14,404 ATMs in India, and has a nearness in 19 nations including India.

The bank has auxiliaries in the United Kingdom and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Oman, Dubai International Finance Center, China and South Africa; and delegate workplaces in United Arab Emirates, Bangladesh, Malaysia and Indonesia. The organization's UK backup has additionally settled branches in Belgium and Germany.

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

Contact:

Head Office
ICICI Bank
9th Floor, South Towers
ICICI Towers
Bandra Kurla Complex
Bandra (E)
Mumbai
Phone: 91-022-653 7914