- Business
- ICICI Bank Limited (ICICIBANK.BO) operates as India's second-largest private sector bank by assets, providing a comprehensive range of banking and financial services to retail, corporate, SME, and NRI customers through an extensive network of 7,246 branches and 10,610 ATMs across India, with international presence in 11 countries including subsidiaries in the United Kingdom and Canada, and branches in the United States, Singapore, Bahrain, Hong Kong, Qatar, Oman, Dubai International Finance Centre, China, and South Africa. Founded in 1994 as a wholly-owned subsidiary of the Industrial Credit and Investment Corporation of India (established 1955) and headquartered in Mumbai with a registered office in Vadodara, Gujarat, the bank offers savings accounts, current accounts, salary accounts, fixed deposits, recurring deposits, home loans, personal loans, auto loans, gold loans, business loans, trade finance, forex services, remittances, debit and credit cards, lockers, agricultural and rural banking services; NRI-specific products including Money2India and Money2World; digital platforms such as iMobile Pay app, InstaBIZ for businesses, Retail and Corporate Internet Banking, Pockets digital wallet, and ICICI Stack; as well as investment options, mutual funds, life and non-life insurance through subsidiaries like ICICI Prudential Life Insurance, ICICI Lombard General Insurance, and ICICI Prudential Mutual Fund. The bank serves diverse segments including individuals, SMEs, large corporates, and startups, with specialized offerings in asset management, treasury, and international trade finance.
Recent developments include the Competition Commission of India's approval in November 2025 for ICICI Prudential Asset Management Company Limited to acquire certain businesses from ICICI Venture Funds Management Company Limited, enhancing its alternative investment capabilities; Reserve Bank of India approval in November 2025 for ICICI Bank's acquisition of 100% shareholding in ICICI Prudential Pension Funds Management Company Limited from ICICI Prudential Life Insurance, subject to Pension Fund Regulatory and Development Authority clearance, positioning it as a wholly-owned subsidiary focused on pension fund management; launch of a dedicated startup branch in Bengaluru in September 2025 offering tailored services like 3-in-1 demat accounts, loans against property, API integrations via Developer Portal, and networking with venture capitalists; partnerships such as with VinFast India in September 2025 for EV financing solutions on VF6 and VF7 models, and with Piramal Finance for co-lending on affordable home and property loans targeting rural and semi-urban borrowers; alongside ICICI Prudential Mutual Fund's launch of the Conglomerate Fund in October 2025. These initiatives reflect strategic expansions into pensions, startups, electric vehicles, and rural credit inclusion.