What is the full form of ICICI? Industrial Credit and Investment Corporation of India.

 

ICICI Bank

Formerly Industrial Credit and Investment Corporation of India
Type Public
Industry Financial services
Founded 5 January 1994; 27 years ago
Headquarters
Vadodara, Gujarat , (Registered Office)
Bandra Kurla Complex, Mumbai (Corporate Office)
Number of locations
5,275 (2020)
Area served
Worldwide
Key people
  • Girish Chandra Chaturvedi (Chairperson)
Products Banking, commodities, credit cards, equities trading, insurance, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, asset management
Number of employees
97,354 (2020)
Subsidiaries ICICI Prudential
ICICI Lombard
ICICI Securities
ICICI Direct
Website www.icicibank.com

ICICI Full Form

What is the full form of ICICI?

Industrial Credit and Investment Corporation of India
Industrial Credit and Investment Corporation of India


The full form of ICICI is Industrial Credit and Investment Corporation of India.

ICICI Bank Limited is an Indian financial services company with its registered office in Vadodara, Gujarat and corporate office in Mumbai, Maharashtra. 

It provides a wide range of banking products and financial services to corporate and retail clients through a variety of distribution channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management. 

The bank has a network of 5,275 branches and 15,589 ATMs across India and has a presence in 17 countries.

History

ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI), an Indian financial institution. The bank was established as Industrial Credit and Investment Corporation of India Bank before it was renamed as ICICI Bank. 

The parent company was later merged with the bank. ICICI Bank started internet banking operations in 1998.

ICICI Personal Financial Services Limited and ICICI Capital Services Limited, the subsidiaries of ICICI Bank and ICICI Bank, merged in 2002 in a reverse merger. [source]

In 2008, after the 2008 financial crisis, customers flocked to ICICI ATMs and branches at certain locations due to rumors of ICICI Bank’s unfavorable financial condition.

 The Reserve Bank of India issued a clarification on the financial strength of ICICI Bank to dispel rumours.

In March 2020, the board of ICICI Bank Ltd approved an investment of Rs 1,000 crore in Yes Bank Ltd. As a result of this investment, ICICI Bank Ltd had more than five per cent stake in Yes Bank.

1996: ICICI Limited a diversified financial institution headquartered in Mumbai

ICICI Bank offers products and services such as online money transfer, tracking services, current accounts, savings accounts, time deposits,

 recurring deposits, mortgages, loans, automatic lockers, credit cards, prepaid cards, debit cards and digital wallets called ICICI Bank. pocket.

ICICI Bank launches ‘ICICistik’ which provides online services like payment options, digital accounts, instant car loans, insurance, investments, loans etc. [source]

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