The private development finance company ICICI Bank Limited is based in India. Its main office is in Mumbai. Through a variety of delivery channels and specialized subsidiaries in the fields of investment banking, life, non-life insurance, venture capital, and asset management, it provides a broad range of banking products and financial services for corporate and retail customers. ICICI net worth is $206 billion in 2022.
This development finance institution is present in 17 countries and has a network of 5,275 branches and 15,589 ATMs throughout India. The bank maintains subsidiaries in the UK and Canada, branches in the US, Singapore, Bahrain, Hong Kong, Qatar, Oman, Dubai International Finance Centre, China, and South Africa, representative offices in the UAE, Bangladesh, Malaysia, and Indonesia, and subcontractors in these countries. Belgian and German subsidiaries of the business have also been created by its UK subsidiary.
ICICI net worth is $206 billion.
ICICI History
On January 5, 1955, the Industrial Credit and Investment Corporation of India (ICICI) was founded, and Sir Arcot Ramasamy Mudaliar was chosen as the organization’s first chairman. To provide project financing to Indian industry, a joint venture between the World Bank, public-sector banks, and public-sector insurance companies was set up. In 1994, ICICI founded ICICI Bank in Vadodara as a totally owned subsidiary. Prior to changing its name to ICICI Bank, the bank was originally created as the Industrial Credit and Investment Corporation of India Bank. Later, the main firm and the bank were combined.
As a development financial institution that only provided project finance in the 1990s, ICICI changed its business model to become a diversified financial services group that provided a wide range of products and services both directly and through a number of subsidiaries and affiliates, including ICICI Bank. Through a public offering of shares in India in 1998 and an equity offering in the form of American depositary receipts on the NYSE in 2000, ICICI’s ownership of ICICI Bank was decreased to 46%. In an all-stock transaction, ICICI Bank bought the Bank of Madura Limited in 2001 and sold additional holdings to institutional investors between 2001 and 2002. In 1998, ICICI Bank began offering Internet Banking.
The first Indian firm and the first bank or a financial institution from Asia outside of Japan to be listed on the NYSE were both ICICI in 1999.
In a reverse merger in 2002, ICICI, ICICI Bank, and ICICI subsidiaries ICICI Personal Financial Services Limited and ICICI Capital Services Limited combined. Due to fears of bank bankruptcy during the financial crisis of 2007–2008, people flocked to several ICICI ATMs and branches. To put an end to the rumors, the Reserve Bank of India clarified the financial stability of ICICI Bank.
The board of ICICI Bank Ltd. approved a $10 billion (US$130 million) investment in Yes Bank in March 2020, giving ICICI a 5% ownership stake in Yes.
| Full name | ICICI Bank Limited |
| Founded | 5 January 1994 |
| Headquarters | Mumbai, Maharashtra, India |
| Employees | 97,354 (2020) |
| Chairman | Girish Chandra Chaturvedi |
| CEO & MD | Sandeep Bakhshi |
| ICICI Net Worth | $206 Billion |
| Subsidiaries | 4 |
ICICI Net Worth
Indian banking institution ICICI net worth is $206 billion in 2022. ICICI has seen a surge in its net worth in the past 2 years. ICICI is one of the biggest financial institutions in the nation providing banking services to millions.
The bank has a network of 5,275 branches across the country through which the facilities and services are directly made available to the citizens. ICICI net worth was $127 billion in 2018, which has now increased to $207 billion. The bank has seen rapid growth in the last 2 years as the nation moves towards the digitalization of banking-related services.
ICICI net worth is $206 billion.
ICICI Net Worth Growth
| ICICI Net Worth 2022 | $207 Billion |
| ICICI Net Worth 2021 | $178 Billion |
| ICICI Net Worth 2020 | $141 Billion |
| ICICI Net Worth 2019 | $131 Billion |
| ICICI Net Worth 2018 | $127 Billion |
ICICI Subsidiaries
ICICI Bank Limited has many subsidiaries which also includes its branches operating in nations outside of India. Some of its subsidiaries include ICICI Prudential (Life Insurance), ICICI Lombard (General Insurance), ICICI Securities, and ICICI Direct.
ICICI Contribution to Indian Financial Infrastructure
The National Stock Exchange was established in 1992 on behalf of the Government of India by the country’s top financial institutions, including ICICI Ltd., with the goal of creating a national trading facility for stocks, bonds, and hybrids by ensuring equal access to investors across the nation through a suitable communication network.
CRISIL was established in 1987 by ICICI Ltd. and UTI as India’s first official credit rating agency. In 2003, ICICI Bank Ltd., LIC, NABARD, NSE, Canara Bank, CRISIL, Goldman Sachs, Indian Farmers Fertilizer Cooperative Limited (IFFCO), and Punjab National Bank established the NCDEX (National Commodities and Derivatives Exchange).
Credit Information Bureau of India Limited (CIBIL), the country’s first national credit bureau, was established in 2000 with assistance from ICICI Bank. In the form of credit information reports, CIBIL offers its members access to a database of data that includes the credit histories of commercial and consumer borrowers.
ICICI net worth is $206 billion.
ICICI Controversies
A few years after gaining notoriety in the banking industry, ICICI bank came under fire for the collection strategies it employed against loan payment defaulters. The bank and its staff were the targets of several lawsuits for employing “brutal means” to recoup the funds. The majority of the claims involved the bank hiring thugs to recover credit card payments, and that these “recovery agents” behaved improperly and occasionally inhumanely. There have been instances where the recovery agents “publicly shamed” the defaulters.
One of the top Indian banks, ICICI Bank, was charged with flagrant money laundering through a violation of RBI regulations in the infamous CobraPost sting operation that rocked the Indian banking sector in April and May 2013.
Then-MD & CEO Chanda Kochhar resigned from her post on October 4 as a result of corruption charges. The bank board formally fired her from her position in January 2019 based on the findings of an inquiry panel led by Justice Srikrishna. It also became one of the first in the nation to request that incentives and benefits be refunded. In connection with the ICICI bank loan investigation, the Enforcement Directorate temporarily seized Chanda Kochhar’s assets and shares in 2020, with an estimated value of about ₹780 million (US$9.8 million).
ICICI Social Media Accounts
| 5M Followers | Link | |
| 322K Followers | Link | |
| 728.9K Followers | Link | |
| YouTube | 259K Subscribers | Link |
ICICI net worth is $206 billion.
10 Facts about ICICI
- The private development finance company ICICI Bank Limited is based in India.
- It was founded on 5 January 1994; 28 years ago.
- Its headquarters are located in Bandra Kurla Complex, Mumbai.
- ICICI works in the industry of Financial Services.
- Girish Chandra Chaturvedi is the current chairman of ICICI Bank Limited.
- Sandeep Bakhshi is the CEO and the MD of the institution.
- ICICI net worth is $207 Billion in 2022.
- There are 97,354 employees working in ICICI Bank Limited as of 2020.
- ICICI has more than 5.2k and 15k branches and ATMs across India respectively.
- ICICI Bank Limited owns 5% of Yes Bank since 2020.
Frequently Asked Questions about ICICI Bank
What is ICICI net worth?
ICICI net worth is $207 Billion in 2022.
When was ICICI Bank founded?
ICICI was founded in 1994.
Where are the headquarters of ICICI located?
ICICI headquarters are situated in Mumbai.
Who is the chairman of ICICI bank?
Girish Chandra Chaturvedi is the chairman of ICICI Bank Limited.
Who is the CEO of ICICI?
Sandeep Bakhshi is the CEO and also the MD of ICICI Bank Limited
How many assets does ICICI bank own?
ICICI bank owns assets worth more than $220 Billion as of 2022.
How many employees work at ICICI bank?
As of 2020, there are 97,354 employees working in the ICICI bank.
How many countries does ICICI operate in?
ICICI bank has a presence in 17 countries around the world.
What was ICICI bank formerly known as?
ICICI bank was formerly known as the Industrial Credit and Investment Corporation of India.
How many branches does ICICI bank have in India?
ICICI has more than 5.2k branches across India.
Conclusion
The private development finance company ICICI Bank Limited is based in India. It was founded on 5 January 1994; 28 years ago. Its headquarters are located in Bandra Kurla Complex, Mumbai. Girish Chandra Chaturvedi is the chairman of ICICI Bank Limited. Sandeep Bakhshi is the CEO and also the MD of ICICI Bank Limited. ICICI net worth is $207 billion in 2022.
ICICI net worth is $206 billion.
More than 97k employees work at ICICI as of 2020. It has more than 5.2k and 15k branches and ATMs across the nation respectively. ICICI bank has a presence in 17 countries around the world.
