ICICI Bank leads in asset management, venture capital management, life and non-life insurance and investment banking. These products and services are handled by specialized subsidiaries for clients composed of corporate, retail and individual customers.
The bank is a publicly listed company. Its shares are traded at the Bombay Stock Exchange and the National Stock Exchange of India Limited in India. ICICI Bank’s American Depositary Receipts (ADRs) are traded on the New York Stock Exchange.
The retail banking industry is going through the watchful eyes of regulatory bodies making only a few retail banks that stand out from the rest. The market saturation in the advanced countries of Central America and Europe has shifted the attention of the expanding retail banking industries in the continents of South America, Africa and Asia. These continents have recently showed increasing market potential in innovations such as international remittances and mobile payments.
For its part, ICICI Bank has recognized that India has evolved to become a hotbed for international remittances and mobile payments. The bank has vigorously taken the lead in creating platforms that promote customer interaction.
ICICI Bank’s major focus is on the growing domestic market. But the presence of the bank in 18 other countries, which include the UK, the US, China and South Africa, and the local markets of Bangladesh and Sri Lanka, has also made ICICI Bank a formidable force in the retail banking industry worldwide.
Added to its wide array of banking and financial products and services are new innovations like online banking apps used through Facebook. These apps are used to promote the banks multiple currency savings accounts.
ICICI Bank’s lead is quite impressive because it has covered both the urban and rural markets that have recognized its innovations as a cutting edge in the jam packed industry of retail banking.