CICI Bank Eurasia LLC is a fully owned subsidiary of ICICI Bank Limited - is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of $121 billion as of March 31, 2008. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management.
ICICI Bank has emerged as India's fastest growing retail bank. It offers individuals a broad spectrum of deposit, investment and credit policies. The Bank is often credited for bringing in the retail finance phenomenon to India by pioneering the effort to make retail loans much more accessible and affordable enabling the rising Indian middle class to fund their lifestyle requirements across the country. The Bank has market leadership in retail credit, which comprises mortgages, vehicle loans, credit cards, personal loans, etc.
ICICI Bank is also India’s foremost technology bank.
The Bank uses IT as a strategic tool in all the business operations,
so as to gain a competitive advantage. The IT based initiatives
have been aimed at enhancing value by integrating diverse
products, offering customer convenience and improved service
while optimising costs. The Bank has also pioneered several
technology-based remittance offerings and has garnered a leadership
in the India-linked remittance market with a market share
of over 15 per cent.
ICICI Bank was the first Indian company and the first financial entity in Asia (ex-Japan) to list on the New York Stock Exchange. In December 2005, the Bank successfully raised US$1.75 billion through a Follow-Up Public offer of equity shares and American Depository Shares. The issue was subscribed seven times with a overwhelming response from both domestic and international investors.
The Bank has received several awards in the banking sector such as "Bank of Year - 2005" by The Banker, "Best Bank in India" by Euromoney. The Bank was listed amongst the top 50 companies in Asia by Forbes. The Asset also awarded the Bank with the "Triple AAA" Best Cash Management Country Award in India in 2005. Business Today has adjudged ICICI Bank as the Fastest Growing Bank in India. ICICI Bank was one of the top 3 banks in the "Best Private Bank in Asia Pacific Region" category at the 15th Private Banker International Wealth Conference in Singapore, 2005. Finance Asia has adjudged the Bank's US$1.75 billion equity offering as the "Best Secondary Offering."
ICICI Bank believes that a home country linked approach is a very effective entry strategy for new international markets. The Bank has initially focused on serving the entire range of investment, remittance and financing needs of non-resident Indians (NRIs), offering trade related services on both the domestic and the overseas leg, and supporting Indian corporates for their funding needs abroad.
ICICI Bank aspires to become a truly global bank and has reached out to the Non-Indian communities in the respective international markets. The Bank offers products and services suited to the local community and currently majority of the Bank's customers in Canada and UK are local citizens. HI-SAVE, which is an on-line no-frills savings product with an excellent savings rate, has received overwhelming response from the local communities in UK and Canada. The Bank will continue with this philosophy of expanding in newer markets with a focus on both NRI and local communities.
The International operations of ICICI Bank diversify risks, accelerate growth and enhance profitability for the Bank. The Bank's strong retail network in India, technology enabled operations, superior servicing capabilities and corporate relationships in India provide it with a distinctive competitive advantage in each of the services it offers overseas.
ICICI Bank is committed to the communities in which it operates and supports a diverse range of social projects in the areas of child health, universal elementary education and micro-finance services. These social initiatives are designed to improve the capacities of the poorest of the poor to participate in the larger economy. |
ICICI Bank Worldwide 
