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RISE OF ICICI BANK AS THE LARGEST PRIVATE SECTOR BANK

SUBMITTED BY: Mritunjoy Mohapatra Saswati Khuntia Bhagirathi Sheela

ICICI BANK
LARGEST PRIVATE SECTOR BANK IN INDIA. Second largest bank in India by assets and third largest by market capitalisation. The Bank has a network of 3,350 branches and 10,486 ATM's in India, and has a presence in 19 countries, including India.

ICICI BANK
It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management.

MARKET EVENTS THAT PROVED FAVOURABLE FOR ICICI BANK


Industrialization (1955 1964), ICICI was among the Worlds first development banks in the private sector, to quickly emerge as an important source of foreign currency loans in the country, to facilitate import of industrial machinery and technology. During this period ICICI was assisted with over 400 companies. Reorganization (1965 1974), A phase of Green Revolution and an emerging need in the various sectors. To cater these needs ICICI has started export finance, concessionalfunding in industrially backward areas and loans for small enterprisers.

MARKET EVENTS THAT PROVED FAVOURABLE FOR ICICI BANK


Consolidation (1975 1984), ICICI had consolidated and broad based the financial system by setting up state level financial and technical institutions and the countries first finance institution with housing specialization. This was the period when obstacles like oil stock came into picture.

Liberalization (1985 1994), A phase, India began to open up which leads to the private enterprise and free play of market forces and ICICI saw the opportunity to diversify to meet the requirements of the new paradigm, and set up countrys first rating agency, first venture capital company and entered into asset management and banking.

MARKET EVENTS THAT PROVED FAVOURABLE FOR ICICI BANK


Globalization (1995 2004), Created both challenges and opportunities, because of the Indias move towards global economy. But ICICI enabled consumption-led growth by accelerating the availability and affordability of retail finance and bringing world class technology to banking, and by this it became the first Indian bank to list on the New York Stock Exchange and emerged as a leading universal bank in India.

MERGERS BY ICICI
1. SCICI .1996 2. ITC Classic Finance Ltd. 1997 3 Anagram Finance . 1998 4. Bank of Madura Ltd. 2001 5. ICICI Personal Financial Services Ltd. 2002 6. ICICI Capital Services Ltd. 2002 7. Standard Chartered Grindlays Bank. 2002 8. Sangli Bank Ltd. 2007 9. The Bank of Rajasthan Ltd. (BoR) .2010

PATHBREAKING INITIAVES THAT SERVED ICICIs MERCURIAL GROWTH


Reaching global markets through technology ICICI is the biggest player in Indian remittance bussines inspite of having less no. of international branches than other banks . India is the largest receiver of remittance in world at 28 billion dollar by 2006. Foraying into the rural and micro banking sector which was practically untapped.

CONCLUSION
Thus we can see that the ICICI bank has managed to hold its own the Indian Banking Sector inspite of entering late and presence of bigger competitors. This was made possible by out of the box thinking, extensive statergising , concetration on customer service and client satisfaction. The ICICI bank has always been the trend setter and have forayed into untapped and risky sectors. This has payed rich dividends in the long run.

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