ICICI Bank is one of the leading private sector Indian banks of the country. ICICI stands for Industrial Credit and Investment Corporation of India and is headquartered at Mumbai. As of 2017, it was the third largest bank in India in terms of assets and fourth in term of market capitalisation. ICICI Bank offers a plethora of services for its customers ranging from investment banking to life and non-life insurance to venture capital and asset management along with retail and corporate banking. The bank has a vast network of 4,850 branches and 14,404 ATMs in India, and has a presence in 18 countries apart from India.
ICICI Bank has been able to expand to more than a handful of countries as it has subsidiaries in the United Kingdom and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Oman, Dubai International Finance Centre, China and South Africa. ICICI Bank also has representative offices in United Arab Emirates, Bangladesh, Malaysia and Indonesia. The company’s UK subsidiary has also established branches in Belgium and Germany. The parent body of ICICI Bank hold only 46% stake in ICICI Bank as they had taken out an IPO in 1998 which was followed by another equity offering on the New York Stock Exchange in 2000.ICICI Bank has a fixed interest rate of 4% for all and any of its saving bank accounts. It has more than 10 different types of savings bank accounts. A few important ones out of these 11 different savings accounts are Titanium Privilege savings account, Gold Privilege savings account, Silver savings account, Regular savings account, Young Stars and Smart Star account, Advantage Woman savings account, Senior Citizens savings account etc. Under the Titanium Privilege Savings account, ICICI Bank offers 40% discount on annual locker rent, waiver of Trading account opening fee of Rs. 975 and first year’s Demat Account Maintenance Charge of Rs. 500, transfer of surplus cash in the Savings account to a fixed deposit account. Under the Titanium Privilege Savings account, ICICI Bank offers 20% discount on annual locker rent, waiver of Trading account opening fee of Rs. 975 and first year’s Demat Account Maintenance Charge of Rs. 500.