customer satisfaction-icici bank-priyanka dhamija

7/28/2019 Customer Satisfaction-ICICI Bank-Priyanka Dhamija

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A SUMMER TRAINING REPORT

ON

CUSTOMER SATISFACTION

OF

ICICI BANK

SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF

BACHELOR OF BUSINESS ADMINISTRATION (BBA)

TRAINING SUPERVISOR SUBMITTED BY

MR. RAJEEV BAHRI PRIYANKA DHAMIJA

MANAGER MARKETING ENROLLMENT NO- 05511242137

SESSION 2005-2008

GURU JAMBHESHWAR UNIVERSITY


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HISAR

ACKNOWLEDGEMENT

A research studies cant be completed without the guidance, inspiration and co-

operation from the various quarters. This study also is the imprints of many persons.

I would like to express my gratitude to Mr. Rajeev Bahri Marketing Manager-

ICICI, for his kind mentorship and guidance in assisting me with my final project.

His academic inputs provided me with insights that were invaluable for completing

this project.

I wish to express my deep gratitude and sincere thanks to ICICI BANKfor providing

me their precious time to collect various kind of information..

PRIYANKA DHAMIJA

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Rationale of the Study

Private banking is a concept which is new and fast emerging in the world of banking

where changes have become a necessity in order for banks to survive in this

competitive environment vis--vis not only from the public and private sector banks

but also from the foreign banks. The objective of the research is to explore the various

products, which a private banker deals into and the systematic process involved to

match client requirements with the right kind of product.

Through this research one of the main objectives is to explore the reason why most of

the banks are injecting private banking as business profile to their set of service

offerings.

Though private banking evolved in late 80s in Asia, in India its not more than 5 years

old. ICICI started it in Aug 2002 and since then it has been a remarkable success.

Today there are enormous solutions to cater client needs but what suits best to a client

is where private banking fits in. Every client will have different needs, liking and

preferences. So a customized portfolio for every client is the need of the day. This

research will highlight more on the product portfolio of ICICI Private Banking, how

they have changed or innovatively structured to be attractive and competitive.

I have used secondary as well as primary sources to complete the project report

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TABLE OF CONTENTS

1. INTRODUCTION

ABOUT INDUSTRY

DISTRIBUTION (PLACE) DECISIONS

SUMMARY ICICI BANK


SWOT ANALYSIS

2. RESEARCH METHODOLOGY

RESEARCH OBJECTIVES

RESEARCH DESIGN

DATA SOURCES

o PRIMARY DATA

o SECONDARY DATA

QUESTIONNAIRE DESIGN/ FORMULATION

o SAMPLE DESIGN

LIMITATION

3. COMPANY PROFILE

ABOUT ICICI

MARKETING MIX (4PS)


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4. COMPARITIVE ANALYSIS

DATA INTERPRETATION&ANALYSIS

5. RECOMMENDATION

6. CONCLUSION

7. ANNEXURE

SAMPLE QUESTIONAIRE

8. BIBLIOGRAPHY

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INTRODUCTION THE MARKETING MIX

(The 4 P's of Marketing)

Marketing decisions generally fall into the following four controllable

categories:

Product

Price

Place (distribution)

Promotion

The marketing mix approach to marketing is a model of crafting and

implementing marketing strategies. It stresses the "mixing" or blending of

various factors in such a way that both organizational and consumer (target

markets) objectives are attained. The model was developed by Neil Borden

(Borden, N. 1964) who first started using the phrase in 1949. Borden claims the

phrase came to him while reading James Culliton's description of the activities

of a business executive:

(An executive is) "a mixer of ingredients, who sometimes follows a recipe as

he goes along, sometimes adapts a recipe to the ingredients immediately

available, and sometimes experiments with or invents ingredients no one else

has tried." (Culliton, J. 1948)

When blending the mix elements, marketer(s) must consider their target market. They

must understand the wants and needs (see Maslow) of the market (customer) then use

these mix elements in constructing (formulating) appropriate marketing strategies and

plans that will satisfy these wants. The mix must also meet or exceed the objectives of

the organization. As Borden put it,"When building a marketing program to fit the

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needs of his firm, the marketing manager has to weigh the behavioral forces and then

juggle marketing elements in his mix with a keen eye on the resources with which he

has to work.". A separate marketing mix is usually crafted for each product offering

or for each market segment, depending on the organizational structure of the firm.

Borden goes on to suggest a procedure for developing a marketing mix. He claims

that you need two sets of information; a list of important elements that go into the

mix, and a list of forces that influence these decision variables

The term "marketing mix" became popularized after Neil H. Borden published his

1964 article, The Concept of the Marketing Mix. Borden began using the term in his

teaching in the late 1940's after James Culliton had described the marketing manager

as a "mixer of ingredients". The ingredients in Borden's marketing mix included

product planning, pricing, branding, distribution channels, personal selling,

advertising, promotions, packaging, display, servicing, physical handling, and fact-

finding and analysis. E. Jerome McCarthy later grouped these ingredients into the four

categories that today are known as the 4 P's of marketing, depicted below:

These four P's are the parameters that the marketing manager can control, subject to

the internal and external constraints of the marketing environment. The goal is to

make decisions that center the four P's on the customers in the target market in order

to create perceived value and generate a positive response.

PRODUCT

A good product makes its marketing by itself because it gives benefits to the

customer. We differentiate product on the basis of design, features, packaging,

services, warranties, return and so on. In general, differentiation is mainly

related to:

The design: it can be a decisive advantage but it changes with fads. For

example, a fun board must offer a good and fashionable design adapted to

young people.

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The packaging: It must provide a better appearance and a convenient use. In

food business, products often differ only by packaging.

The safety: It does not concern fun board but it matters very much for products

used by kids.

The "green": A friendly product to environment gets an advantage among

some segments.

Therefore, term "product" refers to tangible, physical products as well as services.

Here are some examples of the product decisions to be made:

Brand name

Functionality

Styling

Quality

Safety

Packaging

Repairs and Support

Warranty

Accessories and services

PRICE DECISIONS

Price means the pricing strategy you will use. You have already fixed, as an

hypothesis a customer price fitted to your customer profile but you will have

now to bargain it with the wholesalers and retailers.

Pricing strategies you have to choose between three strategies:

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Competitive pricing: If your product is sold at the lowest price regarding all your

competitors, you are practicing competitive pricing. Sometimes, competitive pricing

is essential. For instance, when the products are basically the same, this strategy will

usually succeed.

Remember that the success of competitive pricing strategy depends on achieving high

volume and low costs. If your prices are lower than your costs, you are going straight

to bankruptcy! To avoid such a mistake, you have to take notice of the break-even

ratio that you will find below.

Cost-plus-profit: It means that you add the profit you need to your cost. It is

also called cost-orientated strategy and is mainly used by the big contractor of

public works. The authority may have access to the costing data and should like

to check if the profit added to the cost is not too high. In fact, this strategy is

only good for a business that the customers are public collectivities or

government agencies.

Value pricing: It means that you base your prices on the value you deliver to

customers. For example, when a new technology has a very large success, you

can charge high prices to the customer. This practice is also called skimming.

It is easy when you are in the introductory phase of the product life cycle.

Some examples of pricing decisions to be made include:

Pricing strategy (skim, penetration, etc.)

Suggested retail price

Volume discounts and wholesale pricing

Cash and early payment discounts

Seasonal pricing

Bundling

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Price flexibility

Price discrimination

DISTRIBUTION (PLACE) DECISIONS

Selling to the customers: Whether you sell by yourself ( as retailer) whether

you employ a sales force, you are in these cases in front of the final customer.

There are not intermediaries between you and him. Unfortunately, except for

the retailer business, this situation is far to be the general case.

Distribution is about getting the products to the customer. Some examples of

distribution decisions include:

Distribution channels

Market coverage (inclusive, selective, or exclusive distribution)

Specific channel members

Inventory management

Distribution centers

Order processing

Transportation

PROMOTION DECISIONS

In the context of the marketing mix, promotion represents the various aspects

of marketing communication, that is, the communication of information about

the product with the goal of generating a positive customer response.

Marketing communication decisions include:

Promotional strategy (push, pull, etc.)

Advertising

Personal selling & sales force

Sales promotions

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Public relations & publicity

Marketing communications budget

Advertising, public relations and so on are included in promotion and

consequently in the 4Ps. sometimes, packaging becomes a fifth P. As

promotion is closely linked to the sales, I will mention here the most common

features about the sale strategy.

The function of promotion is to affect the customer behavior in order to close a

sale. Of course, it must be consistent with the buying process described in the

consumer analysis. Promotion includes mainly three topics: advertisement,

public relations, and sales promotions.

ADVERTISEMENT :

It takes many forms: TV, radio, Internet, newspapers, yellow pages, and so on.

You have to take notice about three important notions:

Reach is the percentage of the target market, which is affected by your

advertisement. For example, if you advertise on radio you must know how

many people belonging to your segment can be affected.

Frequency is the number of time a person is exposed to your message. It is

said that a person must be exposed seven times to the message before to be

aware of it. Reach*frequency gives the gross rating point. You have to

evaluate it before any advertisement campaign.

Message: Sometimes, it is called a creative. Anyway, the message must: get

attraction, capture interest, create desire and finally require action that is to

say close the sale.

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PUBLIC RELATIONS:

Public relations are subtler and rely mainly on your own personality. For

example, you can deliver public speeches on subjects such as economics, geo-

economics, futurology to several organizations (civic groups, political groups,

fraternal organizations, professional associations)

SALES PROMOTION

It includes fair trades, coupons, and discounts and is linked to the sales

strategy.

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SUMMARY OF ICICI BANK

The four Ps, product, place, price and promotion are the elements of the

marketing mix used to establish a detailed and final marketing plan.

After the product which is a paramount, the place is very important because it

describes how you reach the consumer and what distribution channel you are

going to choose: Margins and image are quite important features in this matter.

According to your product and place, the pricing strategy will have heavy

consequences on the promotion campaign and on success or failure of your

business as a whole.

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Customer satisfaction is equivalent to making sure that product and service

performance meets customer expectations. It is the perception of the customer that the

outcome of a business transaction is equal to or greater than his/her expectation.

Customer satisfaction occurs when the acquisition of products and /or services

provides a minimum negative departure from expectations when compared with other

acquisitions and when the marginal utility of a transaction is equal to or greater than

preceding acquisitions.

Customer satisfaction occurs when the perception of the reward from the purchase of

goods or services by the customer meets or exceeds his/her perceived sacrifice. The

perception is a consequence of matching past purchase and consumption experience

with the current purchase.

CUSTOMER SERVICE AND SATISFACTION

We must cultivate our garden. Voltair

When we talk about customer service and/or satisfaction, we talk about creativity.

Creativity allows us to handle or diffuse problems at hand or later on rather in the

process of conducting the everyday business. We talk about how, or what, does the

organization have to do to gain not only the sale but also the loyalty of the customer.

We want to know the payoff of the transaction both in the short and long term. We

want to know what our customers Want? We want to know if our customers are

satisfied? Satisfaction, Of course, means that what we delivered to a customer met the

customers Approval. We want to know if customers are delighted and willing to

come

Back, and so on. Fleiss 2 and Feldman 3 present examples of that delightfulness in

their writings. Fleiss has written about Ben and Jerrys ice cream and Feldman has

discussed excellence in a cab ride. As important as delightfulness is, some of us

minimize it, or even totally disregard it. At this point, we fail. Some of the issues that

will guarantee failure in sales, satisfaction, and loyalty are:

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Employees must adhere to a rigid chain of command

Employees are closely supervised

Conflictin whatever formis not allowed

Rewards are based on carrot-and-stick principles

Wrong objectives are measure.

We must understand customer expectation levels concerning quality. We must also

understand the strategy for customer service quality, and next we must understand the

measurement and feedback cycles of Customer satisfaction.

The customer is the person or unit receiving the output of a process on the system. In

fact, it is worth emphasizing that a customer can be the immediate, intermediate, or

ultimate customer. Also, a customer may be a person or persons, or a process or

processes. Customer satisfaction, however, is when the customer is satisfied with a

product/service that meets the customers needs, wants, and expectations.

There are at least three levels of customer expectations about quality:

Level 1. Expectations are very simple and take the form of assumptions, must have,

or take it for granted. For example, I expect the airline to be able to take off, fly to my

destination, and land safely. I expect to get the correct blood for my blood transfusion

and I expect the bank to deposit my money to my account and to keep a correct tally

for me.

Level 2. Expectations are a step higher than that of level 1 and they require some

form of satisfaction through meeting the requirements and/or specifications. For

example, I expect to be treated courteously by all airline personnel. I went to the

hospital expecting to have my hernia repaired, to be in some pain after it was done, to

be out on the same day, and to receive a correct bill. And I went to the bank expecting

the bank teller to be friendly, informative, and helpful with my transactions.

Level 3. Expectations are much higher than for levels 1 and 2. Level 3 requires some

kind of delightfulness or a service that is so good that it attracts me to it. For example,

an airline gives passengers traveling coach class the same superior food service that

other airlines provide only for first-class passengers. In fact, I once took a flight where

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the flight attendants actually baked cookies for us right there on the plane. When I

went to the hospital, I expected staff to treat me with respect and they carefully

explained things to me. But I was surprised when they called me at home the next day

to find out how I was doing. And at my house closing, the bank officer, representing

the bank holding my mortgage, not only treated me with respect and answered all my

questions about my new mortgage, but just before we shook hands to close the deal,

he gave me a housewarming gift.

CUSTOMER SATISFACTION SURVEYS HELP TO:

1. Improve customer, client, or employee loyalty.

2. React quickly to changes in the market.

3. Identify and capitalize on opportunities.

4. Beat the competition.

5. Retain or gain market share.

6. Increase revenue.

7. Reduce costs.

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ABOUT INDUSTRY ICICI BANK

ICICI was established by the Government of India in the 1960s as a Financial

Institution with the objective to finance large industrial projects. ICICI was not a bank- it could not take retail deposits; and nor was it required to comply with Indian

banking requirements for liquid reserves. ICICI borrowed funds from many

multilateral agencies (such as the World Bank), often at concessional rates. These

funds were deployed in large corporate loans.

All this changed in 1990s. ICICI founded a separate legal entity - ICICI Bank which

undertook normal banking operations - taking deposits, credit cards, car loans etc. The

experiment was so successful that ICICI merged into ICICI Bank ("reverse merger")

in 2002.

At the time of the reverse merger, there were rumors that ICICI had large proportions

of Non Performing Loans ("NPA", as they are known in India) on its books - in

particular to the steel industry. Since 2002, there has been a general revival in Indian

industry (and metal based industry in particular). It is widely believed that the

proportion of NP As has come down to prudent levels (even if it were high earlier).

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 [citation needed]. It

was the first bank to offer a wide network of ATM's and had the largest network of

ATM's till 2005, before SBI caught up with it.

ICICI bank now 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.

The bank is expanding in overseas markets. It has operations in the UK, Hong Kong,

Singapore and Canada. It acquired a small bank in Russia recently. It has tie-ups with

major banks in the US and China. The bank is aggressively targeting the NRI (Non

Resident Indian) population for expanding its business.

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SWOT ANALYSIS OF ICICI BANK

STRENGTH

Good for new investor as the fund has to be managed by specialized fund

manager.

Only product which invests in money market, debt market and equity market

at same time.

Investment needed is comparatively less than other investments.

During the stack market boom periods all ICICI bank funds have performed

fairly well thereby increasing investors expectations.

WEAKNESS

Customers do not prefer it because of risk attached to it that is market risk.

Fund manager if makes a wrong prediction then customer will bear the brunt

therefore it depends on funds managers analysis.

Sometimes the age factor affects the investment preference of the investors.

People are afraid of investing in the equity market.

Opportunities

Creating positive image about the fund and changing the nature of the market

itself.

Market of mutual fund is expanding as many foreign companies are coming in

this.

Great scope of new investment due to the budget announcement this year.

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The objective of investing in ICICI bank is Tax-saving apart form returns third

main objective is growth.

Threats

Now there are many other investment instruments which are more lucrative

than ICICI bank. (real estate , gold)

Unawareness among investors regarding ICICI bank. Also in India most of the

people lack of awareness about ICICI bank. They dont know anything about

what is ICICI bank, how it works. How fund managers invest peoples money

in different portfolios and provide the better returns to the customers

Lack of promotions, advertising by ICICI bank industry

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OBJECTIVES OF ICICI BANK

Promote good and fair banking practices by setting minimum standards in

dealing with you

Increase transparency so that you can have a better understanding of what you

can reasonably expect of the services;

Encourage market forces, through competition, to achieve higher operating

standards;

Promote a fair and cordial relationship between you and your bank;

Foster confidence in the banking system

To Help You To Understand How Our Financial Products And Services Work By:

a. Giving you information about them in any one or more of the following languages:

Hindi, English or the appropriate local language.

b. Ensuring that our advertising and promotional literature is clear and not misleading

c. Ensuring that you are given clear information about our products and services, the

terms and conditions and the interest rates/service charges, which apply to them.

d. Giving you information on what are the benefits to you, how you can avail of the

benefits, what are their financial implications and whom you can contact for

addressing you queries and how.

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To Help You Use Your Account Or Service By:

a. Providing you regular appropriate updates.

b. Keeping you informed about changes in the interest rates, charges or terms andconditions.

INFORMATION

You can get information on interest rates, common fees and charges through any one

of the following:

a. Looking at the notices in our branches ;

b. Phoning our branches or help-lines;

c. Looking on our website;

d. Asking our designated staff/help desk ;or e. Referring to the service guide/ Tariff

Schedule.

Before You Become a Customer we will:

give you clear information explaining the key features of the services and

products you tell us you are interested in;

give you information on any type of products and services which we offer and

that may suit your needs;

tell you if we offer products and services in more than one way [for example,

through

ATMs, on the Internet, over the phone, in branches and so on] and tell you

how to find out more about them;

tell you what information we need from you to prove your identity and

address, for us to comply with legal, regulatory and internal policy

requirements.

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Advertising, Marketing and Sales

We will make sure that all advertising and promotional material is clear, and

not misleading.

In any advertising in any media and promotional literature that draws attention

to banking service or product and includes a reference to an interest rate, we

will also indicate whether other fees and charges will apply and that full

details of the relevant terms and conditions are available on request.

If we avail of the services of third parties for providing support services, we

will require that such third parties handle your personal information (if any

available to such third parties) with the same degree of confidentiality and

security as we would.

We may, from time to time, communicate to you various features of our

products availed by you. Information about our other products or promotional

offers in respect of our products/services, will be conveyed to you only if you

have given your consent to receive such information/ service either by mail or

by registering for the same on our website or on our phone banking/customer

service number.

We have prescribed a code of conduct for our Direct Selling Agencies (DSAs)

whose services we may avail to market our products/ services which amongst

other matters requires them to identify themselves when they approach you for

selling our products personally or through phone.

In the event of receipt of any complaint from you that our

representative/courier or DSA has engaged in any improper conduct or acted

in violation of this Code, we shall take appropriate steps to investigate and to

handle the complaint and to make good the loss.

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Privacy and Confidentiality

We will treat all your personal information as private and confidential [even when

you are no longer a customer], and shall be guided by the following principles and

policies

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RESEARCH OBJECTIVES

To study about ICICI as a company and a group

To study about the products and services offered by ICICI

To study the customer satisfaction in ICICI bank

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RESEARCH METHODOLOGY

DATA COLLECTION TECHNIQUES

This project consists of two parts.

The first part is a study of the banking industry, ICICI Bank using secondary data

sources. This secondary information has been sourced from the internet and from

business related magazines and newspapers.

The second part of the study has been done using an exploratory research process and

a structured questionnaire was developed for this purpose. For the collection of

primary data this was the only method used. The reason I used this method is

because a need was felt for the free influx of information about the products. Also this

method allowed the use of skills gained in class.

SAMPLE DESIGN

The population considered for the purpose of the survey was people residing in Delhi

and the National Capital Region (NCR).

SAMPLING TECHNIQUE USED

Since the information required was not of a very technical nature and also looking at

the scope of the project and the extent of the target segment, the sampling technique

employed was Convenience Sampling. I administered the questionnaires.

SAMPLE SIZE

I have restricted the sample size to150 respondents. This was done keeping in mind

the time constraints and the fact that I felt that this number would be enough to serve

the information needs required to show the trends.

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QUESTIONNAIRE DESIGN/FORMULATION

Questionnaire: - A questionnaire consists of a set of questions presented to

respondent for their answers. It can be Closed Ended or Open Ended

Open Ended: - Allows respondents to answer in their own words & are difficult to

Interpret and Tabulate.

Close Ended: - Pre-specify all the possible answers & are easy to Interpret and

Tabulate.

TYPES OF QUESTION INCLUDED:

DICHOTOMOUS QUESTIONS

Which has only two answers Yes or No.

MULTIPLE CHOICE QUESTION

Where respondent is offered more than two choices.

IMPORTANCE SCALE

A scale that rates the importance of some attribute.

RATING SCALE

A scale that rates some attribute from highly satisfied to highly unsatisfied and

very inefficient to very efficient

SAMPLING UNIT: -

Who is to be surveyed? The marketing researcher must define the target population

that will be sampled.

The sample Unit taken by me;General public of different age group, different gender

and different proffesion

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EXTENT:-

Where the survey should be carried out?

I have covered entire residential area of Delhi city for the survey

TIME FRAME:-

When the survey should be conducted?

I conducted my survey for 8weeks from 10th may to 10th july

SAMPLING FRAME:-

The source from which the sample is drawn

Sampling Technique: -

How should the respondent be chosen?

In the Project sampling is done on basis of Probability sampling . Among the

probability sampling design the sampling design chosen is stratified random sampling.

Because in this survey I had stratified the sample in different age group, different

gender and different proffesion

Sample Size/ Population Size: - How many people should be surveyed?

My sample size is 150

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LIMITATIONS OF THE MARKETING

MIX FRAMEWORK

The marketing mix framework was particularly useful in the early days of the

marketing concept when physical products represented a larger portion of the

economy. Today, with marketing more integrated into organizations and with a wider

variety of products and markets, some authors have attempted to extend its usefulness

by proposing a fifth P, such as packaging, people, process, etc. Today however, the

marketing mix most commonly remains based on the 4 P's. Despite its limitations and

perhaps because of its simplicity, the use of this framework remains strong and many

marketing textbooks have been organized around it.

PRODUCT

ICICI Bank offers wide variety of Deposit Products to suit your requirements.

Coupled with convenience of networked branches/ ATMs and facility of E-

channels like Internet and Mobile Banking, ICICI Bank brings banking at your

doorstep. Select any of our deposit products and provide your details online

and our representative will contact you for Account Opening.

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SAVING ACCOUNTS

ICICI Bank offers you a power packed Savings Account with a host of

convenient features and banking channels to transact through. So now you can

bank at your convenience, without the stress of waiting in queues

SENIOR CITIZEN SERVICES

We understand that as you reach the age to retire, you do have certain concerns

whether your hard earned money is safe and secure whether your

investments give you the kind of returns that you need. That's why we have an

ideal Banking Service for those who are 60 years and above. The Senior

Citizen Services from ICICI Bank has several advantages that are tailored to

bring more convenience and enjoyment in your life.

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YOUNG STARS

It's really important to help children learn the value of finances and money

management at an early age. Banking is a serious business, but we make

banking a pleasure and at the same time children learn how to manage their

personal finances.

FIXED DEPOSITS

Safety, Flexibility, Liquidity and Returns!!!! A combination of unbeatable

features of the Fixed Deposit from ICICI Bank

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RECURRING DEPOSITS

When expenses are high, you may not have adequate funds to make big

investments. But simply going ahead without saving for the future is not an

option for you. Through ICICI Bank Recurring Deposit you can invest small

amounts of money every month that ends up with a large saving on maturity.

So you enjoy twin advantages- affordability and higher earnings

LOANS

ICICI Bank offers wide variety of Loans Products to suit your requirements.

Coupled with convenience of networked branches/ ATMs and facility of E-

channels like Internet and Mobile Banking, ICICI Bank brings banking at your

doorstep. Select any of our loan product and provide your details online and

our representative will contact you for getting loans

HOME LOAN

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The No. 1 Home Loans Provider in the country, ICICI Bank Home Loans offers

some unbeatable benefits to its customers - Doorstep Service, Simplified

Documentation and Guidance throughout the Process. It's really easy!

PERSONAL LOANS

If you're looking for a personal loan that's easy to get, your search ends here.

ICICI Bank Personal Loans are easy to get and absolutely hassle free. With

minimum documentation you can now secure a loan for an amount up to Rs. 15

lakhs

CAR LOANS

The NO 1 financier for car loans in the country. Network of more than 1500

channel partners in over 780 locations. Tie-ups with all leading automobile

manufacturers to ensure the best deals. Flexible schemes & quick processing.

Hassle-free application process on the click of a mouse.

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COMMERCIAL VEHICLE LOANS

Range of services on existing loans & extended products like funding of new

vehicles, refinance on used vehicles, balance transfer on high cost loans, top up on

existing loans, Extend product, working capital loans & other banking products

TWO WHEELER LOANS

Avail attractive schemes at competitive interest rates from the No 1 Financier for

Two Wheeler Loans in the country. Finance facility up to 90% of the On Road

Cost of the vehicle, repayable in convenient repayment options and comfortable

tenors from 6 months to 36 months. Ride home on your Dream Two Wheeler with

our hassle free finance.

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FARM EQUIPMENT LOANS

Preferred financier for almost all leading tractor manufacturers in the country.

Flexible repayment options in tandem with the farmer's seasonal liquidity.

Monthly, Quarterly and Half-yearly repayment patterns to choose from.

Comfortable repayment tenures from 1 year to 9 year

CARDS

ICICI Bank offers a variety of cards to suit your different transactional needs.

Our range includes Credit Cards, Debit Cards and Prepaid cards. These cards

offer you convenience for your financial transactions like cash withdrawal,

shopping and travel. These cards are widely accepted both in India and abroad.

Read on for details and features of each.

CREDIT CARDS

ICICI Bank Credit Cards give you the facility of cash, convenience

and a range of benefits, anywhere in the world. These benefits range

from life time free cards, Insurance benefits, global emergency

assistance service, discounts, utility payments, travel discounts and

much more.

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DEBIT CARDS

The ICICI Bank Debit Card is a revolutionary form of cash that

allows customers to access their bank account around the clock,

around the world. The ICICI Bank Debit Card can be used for

shopping at more than 100,000 merchants in India and 13 million merchants

worldwide.

TRAVEL CARD

Presenting ICICI Bank Travel Card. The Hassle Free way to

Travel the world. Traveling with US Dollar, Euro, Pound

Sterling or Swiss Francs; Looking for security and convenience;

take ICICI Bank Travel Card. Issued in duplicate. Offers the Pin based

security. Has the convenience of usage of Credit or Debit card.

PRE PAID CARDS

ICICI Bank brings to you a complete bouquet of pre-paid cards providing

payment solutions at your fingertips. ICICI Bank pre-paid cards are a safe& convenient way for associate payments, disbursements, gifting & small

ticket transactions. Pre-paid cards are available on a VISA platform thus

providing accessibility to over one lakh merchant establishments & cash

withdrawal from all VISA ATMs in India.

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INVESTMENTS

At ICICI Bank, we care about all your needs. Along with Deposit products and

Loan offerings, ICICI Bank assists you to manage your finances by providing

various investment options ranging from ICICI Bank Tax Saving Bonds to

Equity Investments through Initial Public Offers and Investment in Pure Gold.

ICICI Bank facilitates following investment products:

ICICI Bank Tax Saving Bonds

Government of India Bonds

Investment in Mutual Funds

Initial Public Offers by Corporate

Investment in "Pure Gold"

Foreign Exchange Services

Senior Citizens Savings Scheme, 2004

You can invest in above products through any of our branches. For select

products ICICI Bank also provides the ease of investing through electronicchannels like ATMs and Internet (ICICIdirect.com)

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DEMAT SERVICES

ICICI Bank Demat Services boasts of an ever-growing customer base of over

11.5 lacs account holders. In our continuous endeavor to offer best of the class

services to our customers we offer the following features:

e-Instructions: You can transfer securities 24 hours a day, 7 days a week through

Internet & Interactive Voice Response (IVR) at a lower cost. Now with "Speak to

transfer", you can also transfer or pledge instructions through our customer care

officer.

Consolidation Demat Account: Dematerialize your physical shares in various

holding patterns and consolidate all such scattered holdings into your primary demat

account at reduced cost

Digitally Signed Statement: Receive your account statement and bill by email.

Corporate Benefit Tracking: Track your dividend, interest, bonus through your

account statement.

Mobile Request: Access your demat account by sending SMS to enquire about

Holdings, Transactions, Bill & ISIN details

Mobile Alerts: Receive SMS alerts for all debits/credits as well as for any request,

which cannot be processed

Dedicated customer care executives specially trained at our call center, to handle

all your queries.

Countrywide network of over 235 branches, you are never far from an ICICI Bank

Demat Services outlet

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PRIVATE BANKING

The chosen few know that the secret to success in life is living it. To the fullest on

your terms. Then life's luxuries follow naturally at home, at work, at play. Not as an

exception, but as the rule. At ICICI Bank, we believe, it should be the same when it

comes to banking. A world where talented people, synchronized processes and

innovative products come together to create seamless global banking solutions.

Solutions that go beyond wealth management. Solutions that are uniquely tailored to

your specific needs.

PRICE

Growth due to increase in advances, net interest income

The numbers

Total income was Rs 6,316.19 crore in the first quarter from Rs 4,206.49 crore.

The Net Interest Income (NII) of the bank increased by 52 per cent to Rs 1,475 crore

from Rs 969 crore. Other income also rose to Rs 1,277.56 crore from Rs 1,090.5

crore.

The net profit of ICICI Bank, the largest private sector bank in the country, increased

17 per cent to Rs 620.01 crore in the quarter ended June 30, 2006, from Rs 530.01

crore in the same quarter last fiscal. The growth in profit was mainly on account of

increase in advances and the consequent rise in the net interest income. Total income

was up at Rs 6,316.19 crore in the first quarter from Rs 4,206.49 crore.

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The net interest income (NII) of the bank increased by 52 per cent to Rs 1,475 crore

from Rs 969 crore. Other income also rose to Rs 1,277.56 crore from Rs 1,090.5

crore.

Ms Kalpana Morparia, Joint Managing Director, said the increase in NII and fee

income was offset by a fall in treasury income and higher provisioning. While fee

income rose by 50 per cent to Rs 985 crore from Rs 658 crore, treasury earnings fell

to Rs 88 crore from Rs 183 crore. Total expenditure increased to Rs 5,084.83 crore

from Rs 3,235.71 crore. Provisions and contingencies increased by 62 per cent to Rs

482.78 crore (Rs 297.88 crore). Ms Morparia said the increase in provision was purely

a function of higher level of general provision after the Reserve Bank of India

increased the risk weight age on standard assets. The bank's net interest margin for the

quarter was 2.5 per cent, marginally down from 2.6 per cent. This was despite little or

no securitisation in the first quarter, due the change in the guidelines, she said. "Re-

pricing of loan products has helped the bank to maintain the margin. But the full

effect of it will come from the second quarter," she said. ICICI Bank raised rates onretail and corporate loans and its benchmark prime-lending rate by 50 basis points in

June 2006. Total advances increased by 50 per cent to Rs 1,47,184 crore (Rs 97,909

crore). Retail advances increased by 59 per cent to Rs 98,687 crore (Rs 62,063 crore).

Retail assets constitute 67 per cent of advances. Total deposits increased by 61 per

cent to Rs 1,83,006 crore (Rs 1,13,778 crore)

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PROMOTION

In recent times, many banks have unveiled a slew of attractive schemes, loans, special

accounts and credit cards customized for women. Citibank and ICICI Bank's

`Woman's Account'

Women comprise an integral part of our client profile," explains Girish Kundan,

Branch Manager at ICICI, Nehru Place, and New Delhi.

ICICI's Women's Account allows one to deposit small sums in the form of a recurring

deposit. What differentiate it from normal savings account is the value-added features.

For the recurring deposit the minimum amount is Rs 500, against the normative Rs

1,000. Also, there are no tax deductions at source on the recurring deposit

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ICICI BANK ROPES IN SHAH RUKH KHAN

ICICI Bank has once again decided to resort to the

celebrity endorsement route to promote its brand. Almost

two-and-a-half years since superstar Amitabh Bachchan

endorsed the brand, the company has signed up Shah

Rukh Khan as its global ambassador. In a press release issued by the bank, Mr K.V.

Kamath, Managing Director and CEO, ICICI Bank, said, "We are proud to have Shah

Rukh Khan as our global brand ambassador. Having established our leadership in the

retail business over the last five years, the bank is now poised to scale new heights in

the global arena." Ms Lalita D. Gupte, Joint Managing Director, ICICI Bank, said,

"ICICI Bank is happy to be associated with Shah Rukh Khan whose increasing global

popularity brings synergy to our growing global presence". ICICI Bank has a presence

in 12 countries including the UK, Canada, the US and West Asia.

ICICI Bank plans new-age ATMs for rural markets

ICICI Bank proposes to modify the technology behind ATMs

that determines how the money-dispensing machine works. A

project taken up in association with IIT, Chennai is looking at

ways of dealing with a host of critical issues that may seem

pretty run-of-the-mill in an urban neighborhood but insurmountable in a typical

Indian village. Dr Nachiket Mor, Deputy MD of ICICI Bank, is working towards

introducing futuristic machines as part of its plan to reach out to more customer

segments, especially those in non-metros.

New machines the new machines are likely to have security features not found in the

ones commonly used. These may be able to recognize old, used notes as well. It is not

known at this stage as to how many of such machines may be rolled out. ICICI Bank

has already installed many new ATMs in the recent past as part of its programmed to

provide greater off-site access to customers. The idea is to allow more people to use

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ATMs - which would eliminate their need to physically visit bank branches. "The

technology we plan to use here is smarter. The plan is to overcome what is proving to

be a major challenge for some of our customers," said Dr Mor.

PLACE

MONITORING

The Banking Codes and Standards Board of India whose directors include members

of the Governing Council monitor the Code. The contact details are as follows:

The Banking Codes and Standards Board of India

Reserve Bank of India Building,

C-7 , 4th floor , Bandra Kurla Complex,

Mumbai-400051

Telephone: 26573716 ; Fax: 26573719

Email : [email protected] ; Website: www.bcsbi.org.in

Getting Help

If you have any enquiries about the Code, you should contact us at our designated

telephone helpdesk or customer service number or contact the Indian Banks

Association at the following address.

Indian Banks' Association

Stadium House, Block II & III

Veer Nariman Road, Mumbai 400 020

Tel. No. 022-22844999 Fax: 022-22835638

Email: [email protected] Website: www.iba.org.in

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Main Branches Of ICICI Bank

Reach us around the clock

Visit us at email us at call us at our 24hr ph nos fax us at

write to us at

www.icicibank.com [email protected] (number below)

022-28307700 20, banjara hills

p.o, hyderabad

500034, India

24 hour customer care nos

Ahemdabad 5530 9890

Banglore 41131877

Coimbatore 1800 345 3499

Chandigarh 505 5700

Chennai 4208 8000

Delhi Mobile 9818178000

Cuttack 1800 345 3499

Delhi 4171 8000

Hyderabad 2312 8000

Darjeeling 1800 345 3499

Guwahati 1800 345 3499

Kochi 238 4500

Indore 402 2005

jamshedpur 1800 345 3499

Mumbai 2830 7777

Kolkata 98313 78000

lucknow 229 4577

Ranchi 1800 345 3499

Patna 1800 345 3499

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pune 2610 3333

Chattisgarh 98932 08000

Siliguri 1800 345 3499

andhra pradesh 98495 78000 Haryana 98961 78000

Goa 98904 78000

98982 78000

Madhya pradesh 98932 08000

Karnataka 98455 78000

Kerala 98954 78000

Rajasthan 98292 22292

Maharashtra 98904 78000

Punjab 98155 58000

UP West 98973 08000

Tamil nadu 98944 78000

UP East 1800 345 3499

Bhibanshwar 1800 345 3499

Uttranchal 98973 08000

ICICI BANK HEAD OFFICE:

ICICI Bank

9th Floor, South Towers

ICICI Towers

Bandra Kurla Complex

Bandra (E)

Mumbai

Phone : +91-022-653 7914

E-Mail: [email protected] ; [email protected]

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SOME ABROAD BRANCHES

Bahrain Branch

ICICI Bank Ltd.

Manama Centre

Manama

Kingdom of Bahrain

Tel: + 973 17 576 161

Fax: + 973 17 221 200

Bangladesh Representative Office

ICICI Bank Ltd.

Suite 11-01, Level 11

Unique Trade Centre, 8 Panthapath

Kawran Bazar, Police Station

Tejgaon, Dhaka

Bangladesh

Tel: + 88 02 912 4985

Canada Subsidiary

ICICI Bank Canada

Exchange Tower,

130 King Street West, Suite 2130

Toronto ON M5X 1B1

Canada

Tel: + 1 416 360 0909

Fax: + 1 647 436 1178

China Representative Office

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ICICI Bank Ltd.

2805-2806,Bank of China Towers

200 Yincheng(M) Road

Pudong

Shanghai 200 120

P.R. China

Tel: + 86 21 5888 2413

Fax: + 86 21 5888 2347

Dubai Representative Office

ICICI Bank Ltd.

Suite No. 404, The Business Centre Building

Khalid Bin Al Waleed Street

Near Burjuman

Dubai U.A.E.

Tel: + 971 4 396 5333

Fax: + 971 4 396 6994

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COMPANY PROFILE ICICI BANK

ICICI Bank (formerly Industrial Credit and Investment Corporation of India).

ICICI Limited, was established in 1955 by the World Bank, the Government of

India and the Indian Industry, for the promotion of industrial development in India by

giving project and corporate finance to the industries in India.

ICICI Bank has grown from a development bank to a financial conglomerate and has

become one of the largest public financial institutions in India. ICICI Bank has

financed all the major sectors of the economy, covering 6,848 companies and 16,851

projects. As of March 31, 2000, ICICI had disbursed a total of Rs.1,13,070 crores,

since inception.

ICICI BANK FACT FILES

Total assets: Rs.146,214 crore (December 31, 2004)

Network: 530 branches

ATMs: Over 1,880

Abroad Subsidiaries: United Kingdom and Canada

Abroad branches: Singapore and Bahrain

Representative offices: United States, China, United Arab Emirates, and Bangladesh

And South Africa.

ICICI Bank is India's second-largest bank with total assets of about Rs. 2,513.89 bn

(US$ 56.3 bn) at March 31, 2006 and profit after tax of Rs. 25.40 bn (US$ 569 mn)

for the year ended March 31, 2006 (Rs. 20.05 bn (US$ 449 mn) for the year ended

March 31, 2005). ICICI Bank has a network of about 614 branches and extension

counters and over 2,200 ATMs. 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 specialized subsidiaries and affiliates in the areas of

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investment banking, life and non-life insurance, venture capital and asset

management. ICICI Bank set up its international banking group in fiscal 2002 to cater

to the cross border needs of clients and leverage on its domestic banking strengths to

offer products internationally.

ICICI Bank currently has subsidiaries in the United Kingdom, Russia and Canada,

branches in Singapore, Bahrain, Hong Kong, Sri Lanka and Dubai International

Finance Center and representative offices in the United States, United Arab Emirates,

China, South Africa and Bangladesh. Our UK subsidiary has established a branch in

Belgium. ICICI Bank is the most valuable bank in India in terms of market

capitalization.

ICICI Bank's equity shares are listed in India on the Bombay Stock Exchange and the

National Stock Exchange of India Limited and its American Depositary Receipts

(ADRs) are listed on the New York Stock Exchange (NYSE).

ICICI Bank has formulated a Code of Business Conduct and Ethics for its Directors

and employees.

At June 5, 2006, ICICI Bank, with free float market capitalization* of about Rs.

480.00 billion (US$ 10.8 billion) ranked third amongst all the companies listed on the

Indian stock exchanges.

ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial

Institution, and was its wholly owned subsidiary. ICICI's shareholding in ICICI Bank

was reduced to 46% through a public offering of shares in India in fiscal 1998, anequity offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's

acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001,

and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal

2002. ICICI was formed in 1955 at the initiative of The World Bank, the Government

of India and representatives of Indian industry.

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The principal objective was to create a development financial institution for Providing

medium-term and long-term project financing to Indian businesses. In the 1990s,

ICICI transformed its business from a development financial institution offering only

project finance to a diversified financial service group offering a wide variety of

products and services, both directly and through a number of subsidiaries and

affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the

first bank or financial institution from non-Japan Asia to be listed on the NYSE.

After consideration of various corporate structuring alternatives in the context of the

emerging competitive scenario in the Indian banking industry, and the move towards

universal banking, the managements of ICICI and ICICI Bank formed the view that

the merger of ICICI with ICICI Bank would be the optimal strategic alternative for

both entities, and would create the optimal legal structure for the ICICI group's

universal banking strategy. The merger would enhance value for ICICI shareholders

through the merged entity's access to low-cost deposits, greater opportunities for

earning fee-based income and the ability to Participate in the payments system and

provide transaction-banking services. The merger would enhance value for ICICI

Bank shareholders through a large capital base and scale of operations, seamless

access to ICICI's strong corporate relationships built up over five decades, entry into

new business segments, higher market share in various business segments,

particularly fee-based services, and access to the vast talent pool of ICICI and its

subsidiaries. In

October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger

of ICICI and two of its wholly owned retail finance subsidiaries, ICICI Personal

Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The

merger was approved 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. Consequent to the

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merger, the ICICI group's financing and banking Operations, both wholesale and

retail, have been integrated in a single entity.

*Free float holding excludes all promoter holdings, strategic investments and Cross

holdings among public sector entities.

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ICICI GROUP

ICICI VENTURE

ICICI Venture is the largest and one of the most successful private equity and Venture

capital management companies in India with aggregate funds under Management in

excess of USD 2 billion. ICICI Venture is a subsidiary of ICICI Bank, Indias second-

largest bank with total assets of about US$ 56.3 bn (March 31, 2006) and market

capitalization of about USD 10.8 bn (June 2006).

Over the years, ICICI Venture has built an enviable portfolio of companies in the

sectors of information technology, pharmaceuticals, biotechnology, media and retail

thereby delivering value consistently to its investors.

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ICICI Venture has the distinction of managing a large number of exits in the Country.

With over 100 liquidity events, the organization has reaped rich Experience and is

well positioned to handle IPOs, strategic sale and/or mergers.

ICICI Venture has a wide network of third party investors, which include Domestic

investors such as public sector banks, financial institutions and Insurance companies.

A significant portion of the funds corpus is also from International development

financial institutions and international funds.

The company has over 40 qualified professionals with experience across sectors and

functions. The capabilities of the team, structure of the organization, Emphasis on

value creation and performance evaluation matrices enable ICICI Venture to extract

superior returns from its investments.

ICICI SECURITIES INDIAS LEADING INVESTMENT BANK

ICICI Securities Limited is Indias leading full service investment bank with a

Dominant position in all segments of its operations - Corporate Finance, Fixed

Income and Equities. It is a subsidiary of ICICI Bank, the largest private sector bank

in India and operates out of Mumbai with offices in New Delhi, Chennai, Kolkata,

New York, London and Singapore. Under the able leadership of Mr.S Mukherji,

Managing Director and CEO, ICICI Securities continues to grow as reflected in its

performance over the past couple of years.

The Corporate Finance team has consistently been among the top players in M&As

and fund raising from domestic and international capital markets. The Equities team is

a major Indian brokerage house and its research covers over 90% of Sensex market

capitalization. The bond research of the Fixed Income team is a benchmark for the

industry.

The eminent position of ICICI Securities is reflected in the number of awards that our

teams in the Fixed Income, M&A and Equity Capital Markets win. Our Fixed Income

team for the last two years (CY04 and CY05) has been adjudged as the Best Bond

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House in India by both Asia money and Finance Asia. The Equities team was

adjudged as the Best Indian Brokerage House-2003 by Asia money. The Corporate

Finance team tops the M&A/Capital markets league tables regularly. Our wholly

owned subsidiary, ICICI Brokerage Services Limited (IBSL), buys and sells equities

for our institutional clients. ICICI Securities has a U.S. subsidiary, ICICI Securities

Inc., which is a member of the National Association of Securities Dealers, Inc.

(NASD). As a result of this membership, ICICI Securities Inc. can engage in

permitted activities in the U.S. securities markets.

These activities include dealing in securities markets transactions in the United States

and providing research and investment advice to US investors.

ICICI Securities Inc. is also registered with the Financial Services Authority, UK

(FSA) and the Monetary Authority of Singapore (MAS) to carry out Corporate

Advisory Services

PRUDENTIAL ICICI

Prudential ICICI Asset Management Company enjoys the strong parentage of

Prudential plc, one of UK's largest players in the insurance & fund management

sectors and ICICI Bank, a well-known and trusted name in financial services in India.

Prudential ICICI Asset Management Company, in a span of just over eight years, has

forged a position of pre-eminence in the Indian Mutual Fund industry as one of the

largest asset management companies in the country with assets under management of

Rs. 23559.60 crores (as of March 31, 2006). The Company manages a comprehensive

range of schemes to meet the varying investment needs of its investors spread across

68 cities in the country.

PRUDENTIAL LIFE INSURANCE

India's Number One private life insurer, ICICI Prudential Life Insurance Company is

a joint venture between ICICI Bank-one of India's foremost financial services

companies-and Prudential plc- a leading international financial services group

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headquartered in the United Kingdom. Total capital infusion stands at Rs. 15.85

billion, with ICICI Bank holding a stake of 74% and Prudential plc holding 26%.

We began our operations in December 2000 after receiving approval from Insurance

Regulatory Development Authority (IRDA). Today, our nation-wide team comprises

nearly 120,000 insurance advisors, 18 banc assurance partners and 200 corporate

agent tie-ups.

ICICI Prudential was the first life insurer in India to receive a National Insurer

Financial Strength rating of AAA (Ind) from Fitch ratings. For three years in a row,

ICICI Prudential has been voted as India's Most Trusted Private Life Insurer, by The

Economic Times - AC Nielsen ORG Marg survey of 'Most Trusted Brands'. As we

grow our distribution, product range and customer base, we continue to tirelessly

uphold our commitment to deliver world-class financial solutions to customers all

over India.

ICICI LOMBARD

ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between

ICICI Bank Limited and the US-based $ 26 billion Fairfax Financial Holdings

Limited. ICICI Bank is India's second largest bank, while Fairfax Financial Holdings

is a diversified financial corporate engaged in general insurance, reinsurance,

insurance claims management and investment management. Lombard Canada Ltd, a

group company of Fairfax Financial Holdings Limited, is one of Canada's oldest

property and casualty insurers. ICICI Lombard General Insurance Company received

regulatory approvals to commence general insurance business in August 2001.

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WHAT IS MARKETING?

Most people think that marketing is only about the advertising and/or personal selling

of goods and services. Advertising and selling, however, are just two of the many

marketing activities. In general, marketing activities are all those associated with

identifying the particular wants and needs of a target market of customers, and then

going about satisfying those customers better than the competitors? This involves

doing market research on customers, analyzing their needs, and then making strategic

decisions about product design, pricing, promotion and distribution.

:"Marketing is the process of planning and executing the conception, pricing,

promotion, and distribution of ideas, goods, services, organizations, and events to

create and maintain relationships that will satisfy individual and organizational

objectives." by Boone and Kurtz. Dryden Press.

In popular usage, "marketing" is the promotion of products, especially advertisingand

branding. However, in professional usage the term has a wider meaning which

recognizes that marketing is customer centered. Products are often developed to meet

the desires of groups of customers or even, in some cases, for specific customers. E.

Jerome McCarthy divided marketing into four general sets of activities. His typology

has become so universally recognized that his four activity sets, the Four Ps, have

passed into the language

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COMPARISON OF ICICI WITH SBI

ICICI bank is the largest private sector bank in India and the second largest

commercial bank in India. It has branches all over India and even in smaller towns in

South India after the takeover of Bank of Madurai . The bank also has foreign

subsidiaries like ICICI bank, Canada in Canada, Britain and Russia ,representative

offices in USA, China, UAE, Bangladesh, South Africa and branches in Bahrain,

Singapore .

It offers a platform for online share trading through ICICI Direct and insurance

services - ICICI Prudential. NRI services include money transfer through

Money2India, which offer better foreign exchange rates for lower amounts

compared to other services.

Like most private sector banks, all ICICI bank branches in India are networked.

You can access your account from any ICICI bank branch in India. Anyone can

also deposit cash/local cheque in your account at any branch of ICICI bank.

Also they have very convenient bank timings and are open for 12 hours from 8.00

a.m to 8 p.m from Monday to Saturday. When you deposit a cheque at their

branch, they will readily give you a stamped acknowledgement for deposit. You

can only deposit cash in your own account at the ATM, for depositing cash into a

third party account, you have to visit the branch. You have to select the deposit

cash option, you will get an envelope for depositing cash, which you can then fill

in the details and deposit it back. At locations where ICICI bank does not have a

branch, the queue at the ATMs are very long. Just after office hours , between 6

pm - 7.30 pm , customers sometimes have to wait for 15-20 minutes on some

days, to access the ATM.

Since ICICI bank was established after 1991 it offers online banking where you can

check the balance in your account any time. The interface for savings accounts is

much better and user friendly compared to that for their roaming current account

However, unlike other banks like HDFC bank, their online bank statement

does not indicate the branch at which the amount is deposited. The

information is available in the email statement sent to you the next day. You

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have to contact phone banking , enter CRN and TPIN, during working hours

to get this information. Very often, the system is slow, so you have to hold on

for 10 minutes.

For savings account, up to 3 cash deposits per quarter (3 months) at the non

base branch can be made at no cost. For additional cash deposits, the bank

charges the recipient Rs 100 (+ service tax) per deposit, irrespective of the

amount deposited. When the bank implemented this change, the ICICI bank

customers were not informed about the revision in the charges. For outstation

cheques, ICICI bank charges a minimum of Rs 30 (+ service tax) for savings

accounts . This is very inconvenient for account holders in small towns, who

receive the dividend warrant payable in major cities only. These warrants canbe for small amounts like Rs 20. For salary accounts, the minimum AQB

required is zero and you retain the account even after you leave the job. If your

AQB is more than Rs 100000, you get a free at par chequebook. For an AQB

of more than Rs 500000 (fixed deposit + savings account balance), you are

eligible for private banking services. For non maintenance of average

quarterly balance, not only do they deduct Rs 750 from your balance, they also

deduct an additional service tax.

Many of the ICICI bank customers are salary account holders, who are forced by

their employers to open an account with ICICI bank to receive their salary. The

account is opened at a branch which is convenient for the employer, but extremely

inconvenient for the employee. If want any clarification or information, their

customer support (through phone banking or email) will instruct you visit the nearest

branch - where the concerned person may or may not be available. For savings

account customers if you send an email asking for clarifications, it is usuallyanswered after a week.

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They have discontinued the auto sweep-in facility (earlier called Quantum Optima

) , where the amount in savings account was automatically converted into a fixed

deposit, if it exceeded Rs 15000. With the decline in interest rates for loans,

providing this facility is no longer profitable for the bank. You now have to give

an application at the branch if you wish to continue with this facility now. The

form for making the application was sent along with the monthly bank statement.

You can alternately open a recurring deposit, where a fixed amount is added to

your fixed deposit every month.

Making a new Fixed Deposit with ICICI bank for current accounts is extremely time

consuming , especially when compared to HDFC bank. They will insist that you

withdraw cash from your account for making the FD. Since withdrawals of amounts

more than Rs 25000 are subject to cash withdrawal tax, for larger amounts , you will

have to split the fixed deposit and visit the branch on 2 different days. ICICI bank is

probably the only bank in India where they will not accept a ICICI bank cheque for

making a fixed deposit. We had given a cheque with the fixed deposit form , but the

bank officer insisted that we pay cash. She said she would fill the form for us, but she

did not select the options which were initially indicated, causing further problems forus.

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DATA ANALYSIS

AGE GROUP

AGE GROUP

A, 47%

B, 25%

C, 19%D, 9% A

BC

D

IMPLICATION: If we closely look at the pie-chart, we can say that the people

between the age group of 25 to 55 are the main customer of the bank, which

contributes almost 75% of the banks customers. But the old age and the young

people have been less attractive on this leading product of ICICI Bank, which is

a matter of concern. So more focus should be given to them as they have the

huge

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OCCUPATION

SERVICE

51%BUSINES

S

32%

STUDENT

7%

OTHERS

10%

SERVICE

BUSINESS

STUDENT

OTHERS

POTENTIAL. OCCUPATION

IMPLICATIONS: This pie chart clearly shows that service holder and the

business people are the main customer of the bank. Reason for this could be as

per interviewed was working hour and anywhere banking which suits them. 8 to

8 banking give them the freedom to do banking work after the office. Students

contribution is less as student account is not available in Patna and 5000 as

minimum balance is not possible for them. Other section should be increased by

creating awareness about the banking products

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ANNUAL INCOME

LESS

THAN 1

LAKH, 8%

1-2 LAKH,

22%

3-4 LAKH,

37%

MORE

THAN 4

LAKHS,

33%

LESS THAN 1

LAKH

1-2 LAKH

3-4 LAKH

MORE THAN 4

LAKHS

ANNUAL INCOME

IMPLICATIONS: Higher income or we can say that more than 34 LAKHS

earning people are contributing 70% of the transactions. But it is advisable to

penetrate more in the lower income group not only in terms of accounts but also

in other banking products because they contribute a major part of the society.

Target should be on that every section of the society should open saving account

or other account in ICICI Bank.

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DO YOU EXPECT FROM A BANK WHILE OPENING AN

ACCOUNT

FEATURES / ATTRIBUTES

QUICK

SERVICE ,44%

PROPER

INFO, 14%

WORKING

HOUR, 28%

LESS

FORMALITIE

S, 8%

VARIETY OF

PRODUCTS,

6% QUICK SERVICE

PROPER INFO

WORKING HOUR

LESSFORMALITIES

VARIETY OFPRODUCTS

IMPLICATIONS: When a customer visits a bank the first and

foremost thing he looks, that how quickly he is served, how his problem is

entertained by the bank employee and what is the working hour of the bank.

Thats why these three things contribute the maximum of this pie chart. Less

formalities and variety of products although contributes less but it has a major

impact on the customer. So bank should follow on these things also. Service

sector like banking, preference should be given to make.

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WHICH OF THE FOLLOWING ATTRIBUTES COMPELLED YOU

MOST TO OPEN SAVING ACCOUNT IN ICICI BANK

SAVINGS A/C ATTRIBUTES

ATM CUM

DEBIT

CARD, 26%

VALUE

ADDED S.

A/C, 48%

CHEQUE

BOOK, 16%

PHONE /

INTERNET

BANKING,

10%

ATM CUM DEBIT

CARD

VALUE ADDED S.

A/C

CHEQUE BOOK

PHONE /

INTERNET

BANKING

IMPLICATIONS: As we found in our finding that majority of the people

like the saving account, this chart reveals that what are the factor and their

contribution making their product really leading product of ICICI Bank.

VALUE ADDED SAVING ACCOUNT is undoable a unique sub product of

ICICIBank. Since it has the appeal catch maximum customer as it provides

the facility of FIXED deposit in saving account ATM cum debit card is also a

major attributes as it made the banking easy. Personalized chequebook is also amajor attraction in this section. As far as other factors are concern they are

showing less appearance in this chart.

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ACCOUNT TYPE

SAVING

54%CURRENT

18%

FIXED

15%

NRI

8%

OTHER

5%

SAVING

CURRENT

FIXED

NRIOTHER

WHAT TYPE OF ACCOUNT DO YOU HAVE IN ICICI BANK?

IMPLICATIONS: Saving account is the leading and attractive product for

the ICICIBankas it has occupied a major chunk in this chart. This number

and percentage clearly shows that this product has all the quality to give the

customer best services and ability to satisfy them. On the second and third

position current and fixed deposit has also been helpful to increase the customer

base but still their performance needs to be improved. As far as NRI and other

accounts are concerned they have less appearance. So majority of the business is

moving around few leading products. Reason could be either people are not

aware about the various products of the bank or bank has limited range of

products. So bank must ascertain that where things are going wrong and for that

what sort of necessary step could be taken.

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WHICH FACTOR AMONG THE FOLLOWING INFLUENCED YOU

MOST TO OPEN AN ACCOUNT IN ICICI BANK?

INFLUENCED FACTOR

FRIENDS /

RELATIVE44%

ADVERTISEMENT33%

BANK

EMPLOYEE12%

PROSPECTUS

11% FRIENDS /RELATIVEADVERTISEMENTBANK EMPLOYEEPROSPECTUS

IMPLICATIONS: It has been said a satisfied customer is the best medium

for an advertisement since in this chart friend / relative have played a key role in

opening the accounts of others. Which implies that banks real customers are

satisfied enough with facilities available on the products and services enjoyed by

them. On the other hand advertisement also plays a vital role in influencing the

customer. As their behavior not only please the customer but also attract the

customer. Well maintained prospectus is also a major attributes of attracting thecustomer. Main focus of the bank should be no satisfaction of customer.

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COMPARISON

EXCELLEN

T

27%

GOOD

47%

AVERAGE

14%

POOR

5%

CAN'T SAY

7%

EXCELLENT

GOOD

AVERAGE

POOR

CAN'T SAY

IN COMPARISION TO OTHER BANKS HOW WOULD YOU

RATE ICICI BANK?

IMPLICATIONS: Comparison with other banks depends on its overall

performance in the eyes of the people. In this chart it is clearly showing that

74% of the people are satisfied with ICICIBank. In a short span of time of its

existence in this city with strong competition from major public sector bank like

SBI and other private players bank has done well it has occupied a different

position in the peoples mind.

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RECOMMANDATION

YES

95%

NO

5%

YES

NO

WOULD YOU RECOMMEND ICICI BANKTO

OTHERS?

IMPLICATIONS: As per the chart we show that 5% of the people dont

want to recommend ICICI Bankto others. Bank must find the reason of their

dissatisfaction because in this competitive world we have to achieve this target.

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Q. Are you interested in products offered by the ICICI

PRUDENTIAL ?

Yes 61%

No 22%

Will think 17%

INTERPRETATION

The good thing is that atleast the corporates were quite eager to find out

what ICICI PRU has to offer whereas the major 39 % of the corporates

were not even interested in the products as they are quite satisfied by the

LIC and they are not in breaking their long relationship with them. The

private players will have to play a long battle in order to ensure that they

are serious player in the market.

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61%22%

17%

Yes

No

Will think


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2). Are you satisfied with your present insurer?

YES 95%

No 5%

INTERPRETATION

Here is where the challenge is. Inevitably most of the players are very

satisfied with their present insurer which makes it more tough for the

private players to attract the corporates. The remaining 5 % are also not

very dissatisfied by the services but they are just open to new avenues

and are looking forward that private companies come with good offers so

that they may shift to them. Thus private players will have to be very

proactive and in this regard since LIC is the leader and ICICI PRU is

lagging behind its competitors in terms of competition.

3). Where would you like to insure if given chance?

70

95% 5%5%Yes

No


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LIC - 60

ICICI - 15

BAJAJ ALLIANZ - 5

HDFC - 10

SBI - 8

KOTAK MAHINDRA - 2

INTERPRETATION

Thus we see that the companies are comfortable in having

business with govt. owned companies as they feel its safe &

secure to have business with them which is followed by SBI as it is

the biggest bank and then followed by

4). What is peoples main concern while taking a insurance policy?

A) Security 70%

71

25

15

108

60

0

10

20

30

40

50

60

70

LIC SBI HDFC ICICI BAJAJ KOTAK

MAHINDRA


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B) Returns 10%C) Tax rebate 20%

INTERPRETATION:

People invest in insurance mainly because of security concern.

72

TAX REBATE

20%

SAVINGS

70%

SECURITY

10%


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Very High

40%

High

30%

Moderate

11%

Low

10%

Very Low

9%

INTERPRETATION:

Here we found that

40%people are very highly satisfied,

30% of people are highly satisfied,

11% are moderate,

10% of people are low satisfied,

9% are very low satisfied.

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30%

40%

15%

5%

10%

0%

5%

10%

15%

20%

25%

30%

35%

40%

Highly

satisfied

Satisfied Moderate Unsatisfied Highly

Unsatisfied

6). Are you satisfied with the incentives associated with your policy?

Highly satisfied

Satisfied

Moderate

Unsatisfied

Highly Unsatisfied

INTERPRETATION:

30% people are highly satisfied,

40% satisfied,

15%are moderate,

5% are unsatisfied

10%are highly unsatisfied.

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7). What other plans or flexibility you expect from

Insurance companies?

30%

20%

50%

More returns

Complementarygifts

InvestmentPattern

INTERPRETATION:

50%people are satisfied with investment pattern,

30% are satisfied with more returns and

Only 20% people expect complimentary gifts.

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CONCLUSION

More than a bank you need a trusted partner- is the core principle on which Private

Banking at ICICI Bank is structured.

Though products have been added and modified in the past but the motto has not

changed which is to grow and develop relationship with top end client age and

generate returns for the bank. Private banking at ICICI Bank has been a great success

lately thanks to their expertise in financial advisory, skilled team of Relationship

Managers and being proactive in approach right from the beginning. The analysis of

the research shows that around two-third of their client age are banking with them

from more than two years which is commendable in terms of client retention. Also for

nearly all of their clients ICICI Private banking is the only solution provider. From a

high net worth individual aspect the private banking is truly a brilliant experience to

be recognized and treated as a priority cus

customer satisfaction-icici bank-priyanka dhamija

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