|
ICICI Bank has been a consistent performer. It has occupied the first place among private sector banks and second place among all the banks on the basis of its assets. The merger of Bank of Madura and ICICI has accorded the status of the first universal bank in India. This tech-savvy bank always follows well-defined business strategies. Its present emphasis is on retail banking. While it has many strengths and opportunities, it faces challenges in the form of higher incidence of NPAs, unfavorable funding composition and the need to comply with the 40% priority sector norms in the coming years.
ICICI Bank has become the largest private sector bank and the second largest bank in India, following the merger of ICICI and two of its subsidiaries, on March 30, 2002. This merger has indeed ushered in the era of universal banking.
As a universal bank, ICICI Bank has transformed itself from the role of a mere financial intermediary into a provider of a wide range of services, in addition to an originator of credit. The product range is impressive: Home Loans, Car Loans, Consumer Loans, Credit Cards, Debit Cards, Smart Cards, E-Cheques, Private Banking, Demat Services, NRI Services, all these in retail banking, driven by branches, ATMs, Internet and Call Centers.
|
