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ICICI BANK LIMITED

Jan 20, 2020 351

HISTORY:

ICICI Bank started as a owned subsidiary of ICICI Limited, an Indian financial institution, in the year 1994. Four years later, when the company offered ICICI Bank shares to the public, ICICI's share fell to 46%. In 2000, ICICI Bank offered a stock offering in the form of ADRs on the New York Stock Exchange (NYSE), becoming the first Indian company and the first Asian bank or financial institution outside of Japan. NEW YORK BANK . In the following year, it acquired the Bank of Madura Limited in an amalgamation of all the shares. Later in the year and the next fiscal year, the bank made secondary market sales to institutional investors.

ICICI Bank has its shares listed in India on the Bombay Stock Exchange and the National Stock Exchange of India Limited. Overseas,its American Depositary Receipts(ADR) are listed on the New York Stock Exchange(NYSE).As of December 31, 2008, ICICI is the second largest bank in India, with an asset value of Rs. 3,744.10 million and profit after tax Rs. 30.14 billion for the nine months ended December 31, 2008. ICICI Bank has an extensive network both in India and abroad.In India alone,the bank has 1,420 branches and some 4,644 ATMs. ICICI Bank has made its presence in 18 countries - United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Center and representative offices in the United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia . The Bank is proud of its subsidiaries in the United Kingdom, Russia and Canada, of which the UK subsidiary has established branches in Belgium and Germany.

CHAIRMAN:  Mr. M. K. Sharma