8/11/2019 ICICI Bank is an Indian Multinational Banking and Financial Services Company Headquartered in Vadodara

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ICICI Bankis an Indian multinationalbankingandfinancial servicescompany headquartered in

Vadodara.As of 2014 it is the second largest bank in India in terms of assets andmarket

capitalization.It offers a wide range of banking products and financial services for corporate andretail customersthrough a variety of delivery channels and specialized subsidiaries in the areas

ofinvestment banking,life,non-life insurance,venture capitalandasset management.The Bank

has a network of 3,800 branches and 11,162

[2][3]

ATMsin India, and has a presence in 19countries.[4][5]

ICICI Bank is one of theBig Four banksof India, along withState Bank of India,PunjabNational BankandBank of Baroda.The bank has subsidiaries in the United Kingdom, Russia,

and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and

Dubai International Finance Centre; and representative offices in United Arab Emirates, China,

South Africa, Bangladesh, Thailand, Malaysia and Indonesia. The company's UK subsidiary hasalso established branches in Belgium and Germany.

[6]

In March 2013,Operation Red Spidershowed high-ranking officials and some employees of

ICICI Bank involved inmoney laundering.After agovernmentinquiry, ICICI Bank suspended18 employees and faced penalties from theReserve Bank of Indiain relation to the

activity.[7][8][9][10][11]

ICI Bank was established by the Industrial Credit and Investment Corporation of India

(ICICI), an Indian financial institution, as a wholly owned subsidiary in 1994. The parentcompany was formed in 1955 as a joint-venture of theWorld Bank,India's public-sector banks

and public-sector insurance companies to provide project financing to Indian industry.[12][13]

The

bank was initially known as theIndustrial Credit and Investment Corporation of India Bank,

before it changed its name to the abbreviatedICICI Bank. The parent company was later mergedwith the bank.

ICICI Bank launched internet banking operations in 1998.[14]

ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a public offering ofshares in India in 1998, followed by an equity offering in the form ofAmerican Depositary

Receiptson theNYSEin 2000. ICICI Bank acquired theBank of MaduraLimitedin an all-stock

deal in 2001 and sold additional stakes to institutional investors during 2001-02.

ICICI Bank is India's second-largest bank with total assets of about Rs.1,67,659 crore at March 31, 2005

and profit after tax of Rs. 2,005 crore for the year ended March 31, 2005 (Rs. 1,637 crore in fiscal 2004).

ICICI Bank has a network of about 560 branches and extension counters and over 1,900 ATMs. ICICI Bank

offers a wide range of banking products and financial services to corporate and retail customers througha variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of

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 and Canada, branches in Singapore and Bahrain and

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8/11/2019 ICICI Bank is an Indian Multinational Banking and Financial Services Company Headquartered in Vadodara

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