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*All values are in ₹ Cr.
*All values are in ₹ Cr.
*All values are in ₹ Cr.
*All values are in ₹ Cr.
Quarterly | Yearly |
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Sep 2024 - 46325.78 Cr | Mar 2024 - 236037.7272 Cr |
Jun 2024 - 44581.65 Cr | Mar 2023 - 186178.801 Cr |
Mar 2024 - 42606.72 Cr | Mar 2022 - 157536.3168 Cr |
Dec 2023 - 40865.23 Cr | Mar 2021 - 161192.192 Cr |
Sep 2023 - 38938.08 Cr | Mar 2020 - 149786.1031 Cr |
Quarterly | Yearly |
---|---|
Sep 2024 - 13860.8 Cr | - Cr |
Jun 2024 - 12405.94 Cr | - Cr |
Mar 2024 - 11972.73 Cr | - Cr |
Dec 2023 - 11255.19 Cr | - Cr |
Sep 2023 - 11015.41 Cr | - Cr |
ICICI Bank is India's largest private sector bank by consolidated assets. Over the years, the bank has grown tremendously, establishing itself as a leader in the Indian financial sector. With a strong focus on retail and corporate banking services, ICICI Bank has expanded its presence both domestically and internationally.
ICICI Bank Limited was incorporated in 1994 as a part of the ICICI Group. Initially, the bank was named ICICI Banking Corporation Limited. It was founded with an initial equity capital ownership structure where 75% of the equity was held by ICICI and the remaining 25% by SCICI Limited, which was a diversified finance and shipping finance lender. At the time, ICICI owned a 19.9% stake in SCICI.
A significant milestone occurred when ICICI and SCICI merged, making ICICI Bank a wholly owned subsidiary of ICICI. This merger was pivotal in ICICI Bank's early years as it allowed the bank to consolidate its position in the financial sector.
On September 10, 1999, the bank officially changed its name from ICICI Banking Corporation Limited to ICICI Bank Limited, marking the beginning of its broader expansion. The bank's growth trajectory was further accelerated when it acquired Bank of Madura in March 2001 in an all-stock merger. This acquisition allowed ICICI Bank to expand its branch network and customer base significantly.
In a landmark move, ICICI Limited, along with its wholly-owned retail finance subsidiaries – ICICI Capital Services Limited and ICICI Personal Financial Services Limited – amalgamated with ICICI Bank on May 3, 2002. This amalgamation was one of the largest in Indian banking history and transformed ICICI Bank into a universal bank, offering a comprehensive range of financial services under one roof.
In May 2003, ICICI Bank acquired Transamerica Apple Distribution Finance Pvt Ltd, which was primarily engaged in financing in the two-wheeler segment. This acquisition strengthened the bank's presence in the retail financing sector.
Later in the same year, on September 12, 2003, ICICI Bank incorporated ICICI Bank Canada as a 100% subsidiary, marking the bank's entry into the international banking arena. This move was part of the bank’s strategic decision to establish a global footprint.
In May 2005, ICICI Bank made its first foray into the Russian banking market by acquiring Investitsionno-Kreditny Bank (IKB), a Russian bank with branches in Moscow and Kaluga. This acquisition allowed ICICI Bank to expand its international operations further and tap into the growing Russian market.
In August 2005, ICICI Bank increased its shareholding in Prudential ICICI Asset Management Company Limited and Prudential ICICI Trust Limited, making them subsidiaries of the bank.
In April 2007, Sangli Bank Limited merged with ICICI Bank, adding 200 branches to the bank’s already expansive network. The merger further increased the bank's presence in rural and semi-urban areas, which were crucial to its long-term growth strategy.
During this period, ICICI Bank also focused on infrastructure expansion. The bank increased its number of branches and ATMs significantly, offering customers easier access to banking services. ICICI Bank also pioneered mobile banking services, allowing customers to conduct a variety of banking transactions using mobile phones, thus enhancing convenience and accessibility.
During the fiscal years 2008-2009, ICICI Bank continued to grow at an accelerated pace. The bank increased its branch network from 1,262 branches to 1,419 branches. It also expanded its ATM network from 3,881 ATMs to 4,713 ATMs. The bank also received licenses for an additional 580 branches from the Reserve Bank of India (RBI), which further solidified its position as a leading private sector bank in India.
In May 2010, ICICI Bank approved the scheme of amalgamation of Bank of Rajasthan Ltd with itself, adding over 450 branches to its network. This acquisition was structured as a non-cash deal, with a share swap agreement valuing the Bank of Rajasthan at around Rs 3,000 crore. The merger significantly boosted ICICI Bank’s branch network, increasing the total number of branches to 2,529 by March 31, 2011, and expanding its ATM network to 6,055 ATMs.
ICICI Bank continued to expand its global footprint in 2011 and 2012. On May 19, 2011, the bank successfully priced a US $1 billion issuance of fixed-rate notes through its Dubai branch. This was followed by another successful issuance of US $750 million in fixed-rate notes in August 2012. These international fundraising initiatives were oversubscribed, reflecting strong investor confidence in ICICI Bank.
In 2012, the bank also announced a 0.25% increase in its base rate, which affected both retail and corporate lending rates. This was part of the bank's broader strategy to manage interest rate risk and maintain profitability in a challenging economic environment.
In 2013, ICICI Bank made several strategic moves to boost its domestic operations. The bank announced a 0.25% increase in its base lending rate and also raised interest rates on its retail loan products, including home loans. During this period, ICICI Bank focused on expanding its customer base and improving its deposit and loan portfolio.
On January 23, 2014, the bank signed a $200 million Line of Credit with the Export-Import Bank of Korea, further diversifying its funding sources. This collaboration marked another step in the bank’s strategy to grow its international business.
In 2015, ICICI Bank undertook several strategic divestitures to streamline its operations. The bank sold a 6% stake in its subsidiary ICICI Prudential Life Insurance Company and a 9% stake in ICICI Lombard General Insurance Company to its joint venture partner, Fairfax Financial Holdings Limited. These moves allowed the bank to unlock value from its subsidiaries while retaining majority control.
Additionally, ICICI Bank reduced its base lending rate multiple times during 2015, reflecting the broader economic environment and the bank’s focus on making loans more affordable for its customers.
In 2016, ICICI Bank achieved a significant milestone by crossing the Rs 1 lakh crore mark in mortgage disbursements, becoming the first private sector bank in India to achieve this feat. This achievement underscored ICICI Bank’s leadership in the retail banking space, particularly in home loans.
By 2020, ICICI Bank had repositioned its international operations to focus on non-resident Indians (NRIs) and digital banking. The bank also made strides in enhancing its retail portfolio, which accounted for over 63% of its total loans by March 2020.
ICICI Bank continued its expansion in the post-pandemic era. By March 2021, the bank had a branch network of 5,266 branches and 14,136 ATMs. The bank also continued to innovate by launching Merchant STACK, a comprehensive suite of digital banking services tailored for businesses.
By March 2023, ICICI Bank's total assets had grown to Rs 15,842.07 billion, marking a significant increase over the years. The bank also expanded its branch network to 5,900 branches and its ATM network to 16,650 ATMs, reflecting its continued focus on expanding its reach and improving customer service.
Additionally, ICICI Bank's domestic advances increased by 15.9% year-on-year as of June 30, 2024, with the retail loan portfolio growing by 17.1% during the same period3. These achievements underscore ICICI Bank's continued focus on expanding its reach and improving its service offerings in both retail and digital banking sectors.
ICICI Bank’s journey from its inception in 1994 to becoming India’s largest private sector bank is a testament to its resilience, strategic foresight, and commitment to innovation. With a strong presence both in India and internationally, ICICI Bank has positioned itself as a leader in the financial sector. The bank’s focus on retail banking, digital innovation, and global expansion ensures that it remains at the forefront of the banking industry for years to come.
ICICI Bank Ltd shares are currently priced at 1319.35 on NSE and 1330.85 on BSE as of 10/28/2024 12:00:00 AM. Please be aware that stock prices are subject to continuous fluctuations due to various factors.
The past 1-year return of ICICI Bank Ltd [ICICIBANK] share was 44.54. The ICICI Bank Ltd [ICICIBANK] share hit a 1-year low of Rs. 908.2 and a 1-year high of Rs. 1362.35.
The market cap of ICICI Bank Ltd is Rs. 911285.12 Cr. as of 10/28/2024 12:00:00 AM.
The PE ratios of ICICI Bank Ltd is 20.81 as of 10/28/2024 12:00:00 AM.
The PB ratios of ICICI Bank Ltd is 3.57 as of 10/28/2024 12:00:00 AM
The Mutual Fund Shareholding was 28.63% at the end of 10/28/2024 12:00:00 AM.
You can easily buy ICICI Bank Ltd shares in Kotak Securities by opening a demat account and getting the KYC documents verified online.