ICICI Bank is a commercial banking outfit (in India) set up by the ICICI Group. The Bank was registered a banking company on January 5, 1994 and received its banking licence from the Reserve Bank of India on May 17, 1994.
The Bank has an authorised capital of INR 300 crore (USD 75.96 million), of which subscribed and paid-up capital is INR 165 crore (USD 41.78 million).
The first ICICI Bank branch was started in Madras (India) in June 1994. As of March 31, 1999, 64 branches were functional across the country. By next year 36 more branches/offices are expected to be added to the network.
The branches are fully computerised with state-of-the-art technology and systems. All of them are fully networked through V-SAT (Satellite) technology. The Bank is connected to the international SWIFT network since March 1995.
ICICI Bank offers a wide spectrum of domestic and international banking services to facilitate trade, investment, cross-border business, and treasury and foreign exchange services. This is in addition to a whole range of deposit services offered to individuals and corporate bodies.
ICICI Bank's Infinity was the first Internet banking service in the country, and a prelude to banking in the next millennium.
Currently the Bank has around 150,000 customers.
(-Source: Company Website)
Tentative Pricing - Mar 27 WK
Lead Underwriters - Merrrill Lynch & Morgan Stanley
icici.com |
