ICICI BANK LTD

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BSE Code: 532174       NSE Code: ICICIBANK

Business Profile
Business Profile
ICICI Bank was promoted in 1994 by ICICI, an Indian development financial institution. The two entities subsequently merged to become the largest commercial bank in the private sector.

A new generation bank, ICICI Bank started with all the latest technologies to hit the Indian banking industry in the second half of the nineties. All its branches are fully computerized with the state-of-the-art technology and systems, networked through VSAT technology. The bank is connected to the SWIFT international network.

In 2005, it expanded its network to 562 branches and 1,910 ATMs. It continued to expand its electronic channels, namely internet banking, mobile banking, call centers and ATMs, and migrate customer transaction volumes to these channels. Over 70% of customer-induced transactions take place through these electronic channels.

It has acquired a small Russian banking entity, Investitsionno-Kreditny Bank (IKB), which will help boost its corporate business and deposit franchise overseas. The bank has also built several strategic alliances with banks like Wells Fargo in USA, Lloyds TSB in UK and DBS in Singapore.

ICICI has entered into strategic alliance with Prudential Plc of UK for its mutual find business. The duo have been fairly aggressive through their companies, Prudential ICICI Asset Management Company and Prudential ICICI Trust.

The bank is also keen to offer its services to the Indian agricultural sector. Over 2,000 Internet kiosks and 70 agri-desks have been established in locations with large agricultural markets.

Financials
The bank reported a decline in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company declined 35.32% to Rs 7,437.60 million from Rs 11,498.40 million in the same quarter last year.Interest earned declined 6.22% to Rs 75,297 million, while total income for the quarter fell 11.43% to Rs 92,033.60 million, when compared with the prior year period. During the quarter, it reported earnings of Rs 6.68 a share.

Recent Developments
01-APR-09
The Bank repaid EUR 600 million floating rate notes that matured on Mar. 30, 2009.

05-JAN-09
The bank entered into an agreement with BSNL Cell One to enable the latter`s customers to pay their bills through the bank`s website.

19-DEC-08
The company board has appointed Chanda Kochhar as managing director and CEO of ICICI Bank and K.V. Kamath as non- executive chairman. Chanda Kochhar will take over from May 1, 2009.

03-NOV-08
Contrary to belief that it was under withdrawal pressure, India`s top private sector lender the company said that it has retired about Rs 240 billion expensive deposits to reduce cost and improve its bottom-line, reports agency sources.

23-OCT-08
The company has repaid USD 300 million of notes that matured on Oct. 22, 2008. The amount has been paid to the trustee and paying agent and the notes are being extinguished.

20-AUG-08
The company on Tuesday, August 19 entered into a USD 250 million agreement with Export-Import (Exim) Bank of United States to finance capital goods imports of Indian corporates from USA, reports agency sources.

Other Information
Annual Reports for ICICI BANK LTD
Annual Report YearDownload Annual ReportDownload Report Preview
2022-23
2021-22
2020-21
2019-20
2018-19
2017-18
2016-17
2015-16
2014-15
2013-14
2012-13
2011-12
2010-11
2009-10
2008-09
2007-08
2006-07
2005-06
2004-05
2003-04
2002-03
2000-01
1999-00
1998-99
1997-98

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