Profile: ICICI Bank Ltd (IBN)
19 Jul 2016
ICICI Bank Limited (the Bank), incorporated on January 5, 1994, is a banking company. The Bank is engaged in providing a range of banking and financial services, including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services.
The Bank's business segments are Retail banking, Wholesale banking, Treasury, Other banking, Life insurance, General insurance and Others. The Retail banking segment includes exposures, which satisfy the criteria of orientation, product, granularity and low value of individual exposures for retail exposures laid down in Basel Committee on Banking Supervision document International Convergence of Capital Measurement and Capital Standards. Wholesale Banking includes all advances to trusts, partnership firms, companies and statutory bodies, which are not included under Retail Banking. Treasury includes the entire investment and derivative portfolio of the Bank. Other banking includes leasing operations and other items not attributable to any particular business segment of the Bank. Life insurance represents results of ICICI Prudential Life Insurance Company Limited. General insurance represents results of ICICI Lombard General Insurance Company Limited. Others includes ICICI Home Finance Company Limited, ICICI Venture Funds Management Company Limited, ICICI International Limited, ICICI Securities Primary Dealership Limited, ICICI Securities Limited, ICICI Securities Holdings Inc., ICICI Securities Inc., ICICI Prudential Asset Management Company Limited, ICICI Prudential Trust Limited, ICICI Investment Management Company Limited, ICICI Trusteeship Services Limited and ICICI Prudential Pension Funds Management Company Limited.
The Bank has a network of approximately 18,210 branches and automated teller machines (ATMs). The Bank's mVisa service allows customers to scan a Quick Response (QR) Code at merchant outlets and make a payment. Its Eazypay enables customers of all banks to pay merchants online without any registration. Voice Biometric enables the Bank to recognize its customers' voices over the phone, allowing them to access their accounts. Its iLoans application allows customers to track and access all their loan-related details. Its Money2World is an online outward remittance service for resident Indians. The Bank has approximately 110 Touch Banking branches across over 30 cities. The Bank has opened over 20 million Basic Savings Bank Deposit Accounts (BSBDA) through its branch and Business Correspondent (BC) network.
The Bank offers a suite of banking products and solutions to Small and Medium Enterprises (SMEs) for meeting their business and growth requirements. The Bank also offers supply chain financing solutions and small-ticket funding to the channel partners of large corporates. The Wholesale Banking Group (WBG) provides customized solutions to corporate clients by analyzing their specific business and financial needs. It provides an array of financial solutions for working capital finance, export finance, trade, transaction and commercial banking, foreign exchange and derivative products and rupee, as well as foreign currency term loans. The Commercial Banking Group manages banking transactions, trade based requirements and cash management needs of corporate customers. Its treasury operations comprise the Asset Liability Management Group, Markets Group and Proprietary Trading Group. The Asset Liability Management Group actively manages the Bank's liquidity and securities portfolio held for compliance with statutory and regulatory requirements. The Markets Group offers foreign exchange and derivative solutions to clients. The Proprietary Trading Group manages trading positions within the approved risk limits. The Bank's international banking is focused on providing end-to end solutions for the international banking requirements of its Indian corporate clients and leveraging economic corridors between India and the rest of the world.
The Bank's international footprint consists of subsidiaries in the United Kingdom and Canada, branches in the United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Dubai International Finance Centre, Qatar Financial Centre, China and South Africa, and representative offices in the United Arab Emirates, Bangladesh, Malaysia and Indonesia. The Bank's subsidiary, (ICICI Bank UK Plc), has approximately eight branches in the United Kingdom and a branch each in Belgium and Germany. ICICI Bank Canada also has over eight branches. The Bank has developed customized financial products and services to cater to a range of rural customers, including farmers, traders, processors, as well as rural entrepreneurs. The Bank caters to the financial needs of women entrepreneurs through its Self-Help Group (SHG) program as a part of its microfinance initiatives.
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