Company Profile
By and large, it is a wholesale banking company. So the risk associated with wholesale banks and high default is also attached. But ICICI bank is well diversified. From home loan to ICICI direct. Gold loan, ICICI prudential life insurance to ICICI Lombard general insurance, To mutual funds.
ICICI Bank is one of the first generation banks, which receives licenses with HDFC Bank, UTI Bank renamed axis Bank, Oriental Bank of Commerce, Development credit Bank, Indusind Bank, Times Bank, Centurion Bank, and Bank of Punjab. Around 1994. The parent company, ICICI or Industrial Credit and Investment Corporation of India, was set up in 1955. It was a joint venture of the World Bank, Insurance Companies, and Public sector banks.
IN 2001, The parent company was merged with the bank with its two wholly-owned subsidiaries.
The bank went public in 1998. As of today, the bank’s stock is listed on New York Stock Exchange, NSE and BSE. It is also part of Sensex and Nifty.
The bank offers venture Capital, Asset Management, Retail Banking, Wholesale Banking, Investment Banking, Life insurance, General Insurance, and Private Equity. The bank has an extensive network of branches in India. More than 4500 branches and 14500 ATMs.
Financials and Ratios
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Future Prospect
As a pioneer of many new concepts in the Indian financial industry, the company management is keen to take risks. It is also market-friendly. But sometimes, it did not go as the company was planning from 3i Infotech to infrastructure lending. So it only makes it worse for them.
It is the company where you can invest for the future as financial literacy and financial Inclusion will occur, and the demand for the product will also increase. The best thing for ICICI is the cost, which will reduce due to the high CASA ratio. The bank is showing healthy growth in the loan book also.
ICICI Bank was going through a tough time. There were many issues. But as Chanda Kochar left, new management was taking on the problems. Growth
