ICICI Bank Ltd Company Profile: Products, Promoters and Clients
Question 1: What are the products and services of ICICI Bank Ltd ?
ICICI Bank Limited is a top private bank in India. It offers many financial products and services for individuals, businesses, and corporate clients. Founded in 1994, ICICI Bank has significantly expanded and provides banking solutions in India and around the world. Here are the leading products and services ICICI Bank offers:
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1- Retail Banking Services
- Savings Accounts: ICICI Bank has different savings accounts with reasonable interest rates, easy access, and features like online banking.
- Current Accounts: These accounts are designed for businesses and offer many services, including higher transaction limits, overdraft options, and payment solutions.
- Fixed Deposits: Customers can put their savings in fixed deposits for different periods and earn attractive interest rates, providing secure returns.
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2- Loans and Credit Services
- Personal Loans: ICICI Bank offers personal loans for needs like medical emergencies, travel, education, and home renovations. They provide flexible repayment options.
- Home Loans: The bank gives home loans for buying, building, or renovating homes. They have competitive interest rates and an easy application process.
- Car Loans: Customers can get car loans to buy new or used vehicles. There are different repayment options and quick approval.
- Business Loans: ICICI Bank supports small and medium enterprises (SMEs) with various financing options, including term loans, working capital loans, and business credit cards.
3- Credit and Debit Cards
- Credit Cards: ICICI Bank has various credit cards for different needs, including cashback, travel perks, dining rewards, and fuel savings.
- Debit Cards: The bank offers debit cards connected to savings accounts. These cards allow cash withdrawals, online shopping, and contactless payments.
4- Investment Services
- Mutual Funds: ICICI Bank helps customers invest in mutual funds. Customers can pick from many schemes that match their risk level and financial goals.
- Stocks and Shares: ICICI Direct allows customers to trade stocks. They can easily buy and sell shares in the stock market.
- Fixed Income Securities: The bank offers investment options in fixed-income securities like bonds and debentures.
- Fixed Income Securities: The bank provides investment opportunities in fixed-income securities such as bonds and debentures.
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5- Insurance Services
- Life Insurance: ICICI Bank provides life insurance through ICICI Prudential Life Insurance. They offer different plans to help customers protect their families.
- General Insurance: Customers can also get general insurance products like health, motor, and travel insurance.
6- Wealth Management
- Financial Advisory Services: ICICI Bank provides personalized advice to help customers manage their investments and reach their financial goals.
- Portfolio Management: The bank offers portfolio management services to high-net-worth individuals (HNIs) for effective investment planning.
7- Corporate Banking Services
- Business Loans: ICICI Bank offers customized financial solutions for large companies, such as term loans, working capital, and project financing.
- Trade Finance: The bank supports international trade for businesses with products like letters of credit, bank guarantees, and export financing.
8- Digital Banking Services
- Internet Banking: ICICI Bank provides a strong online banking platform for managing accounts, transferring money, paying bills, and investing.
- Mobile Banking: The bank's mobile app lets customers do banking tasks, manage accounts, and access services anytime, anywhere.
- Contactless Payments: ICICI Bank encourages digital payments with contactless debit and credit cards, QR code payments, and UPI (Unified Payments Interface) services.
9- NRI Banking Services
- NRI Accounts: ICICI Bank has special banking services for Non-Resident Indians (NRIs). These include NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts.
- Investment Services for NRIs: The bank offers investment options for NRIs, such as mutual funds and fixed deposits, and it helps with property investments.
Q2. Who are the Promoters/Management of ICICI Bank?
ICICI Bank has no promoters. The shareholding of the bank is a mix of individual, retail, and institutional investors.
Mr. Pradeep Kumar Sinha is the chairman of the Bank. Sinha joined the Indian Administrative Service in 1977 after completing his Master in Economics in 1976. He graduated in Economics (Honours) from St. Stephens College, Delhi. During service, he also completed M. Phil in Social Sciences.
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