ICICI Bank was founded in 1994. It was a part of the ICICI group. Initially it was known as ICICI Banking Corporation Limited.
Headquarters of the bank is in Mumbai and Mr MK Sharma is the Chairman of the bank & Chanda Kochar serves as the Managing Director and CEO of the bank. The bank has total 2,000 branches in India along with a network of 5,500 ATMs.
ICICI bank employs 74,096 people. ICICI bank is present in 18 countries. It acquired Bank of Rajasthan in 2010.
ICICI has a Go Green initiative to create awareness about environment. Under this scheme it promotes alternate options for banking, e.g. Internet Banking. As part of the initiative the bank has set up electronic branches. It also sends bank statements in electronic form only. The bank saved more than 60 tonnes of paper by these initiatives. The bank has around 20 subsidiaries.
ICICI Bank had a revenue of Rs. 52739.43 crore in latest financial year (2015-16). Its profit stood at Rs. 9726.29 crore. It has total market capitalization of Rs. 142316.29 crore. ICICI reduced its equity in foreign units. In UK & Canada, investment decreased to 4.8%. It is planning to consolidate its position in foreign markets. In association with Jet Airways, ICICI Bank became the first bank of the country to launch contactless business credit card. This move of the bank is for the benefits to small and mid-sized enterprises (SMEs) and their employees. ICICI recently decreased its marginal cost of funds-based lending rate by 0.05%. New borrower will be able to avail loans at lower interest rate.